Reversal of ITC Confirmed due to Cancellation of GST Registration: Calcutta HC stays Demand Order

The Calcutta High Court has stayed a demand order confirming the reversal of Input Tax Credit (ITC) due to the cancellation of GST registration. The court's interim relief prevents immediate enforcement of the demand raised by tax authorities. This decision highlights ongoing disputes regarding ITC reversals linked to GST registration cancellations, impacting businesses' financial positions and compliance strategies.