AAR: Denies refund of ITC on ‘input service’ under inverted duty structure

Maharashtra AAR holds the applicant (engaged in execution of construction of large projects) ineligible for refund of Input Tax Credit (ITC) on ‘input services’ with respect to transaction covered under inverted duty structure; Notes that Applicant (a joint venture between Daewoo Engineering and Tata Projects) have been awarded a contract which is in the nature of works contract and GST rate applicable on outputs services is lower than rate applic...