HC: Restriction on spreading refund claim across different financial years 'arbitrary', stays Circular

Delhi HC makes a prima facie observation that “the restriction pertaining to the spread of refund claim across different financial years is arbitrary”, thus stays rigour of paragraph 8 of Circular No. 125/44/2019-GST dated November 18, 2019  till the next date of hearing; Observes that the ITC earned by assessee was spread over two financial years i.e. 2017-18 and 2018-19 while the exports against the said purchases were made only in the financial year 2018-19; Finds...