Refund of ITC on closure of business allowed by Sikkim High Court

The Honble Sikkim High Court recently made a significant decision allowing the refund of unutilized Input Tax Credit (ITC) upon business closure, challenging existing legislative restrictions. SICPA India Pvt. Ltd. sought a refund of unutilized ITC following the discontinuation of its operations. we are delighted to share our thoughts ont eh impact and ramification of this judgement. We sincererly acknowledge the contributions of Mr Hitesh Sachdeva, an Indirect tax expert with close to a decade of IDT expertise.