The Delhi High Court directed the Centre to verify the company’s claim of excess GST of Rs 923 crore within two weeks and refund the amount once verified in a relief to telecom major Bharti Airtel. Bharti Airtel claimed that there was excess payment of taxes that by way of cash, to the tune of around Rs 923 crores.
As the words given by the judgement copy – “This was occasioned to a great degree due to non-operationalization of Forms GSTR-2A, GSTR-2 and GSTR-3 and the system related checks which could have forewarned the petitioner about the error .
Petitioner now desires to correct its returns, but is being prevented from doing so, as there’s no enabling statutory procedure implemented by the Government”. It is also noted that the High Court said – “We also direct the Respondents that on filing of the rectified Form GSTR-3B, they shall, within a period of two weeks, verifythe claim made therein and give effect to the same once verified”.
Senior Partner at AMRG & ASSOCIATES Rajat Mohan said that the Delhi supreme court has permitted the petitioner to avail additional decrease by allowing the rectification of Form GSTR-3B for the period to which the error relates i.e. July to September, 2017.
The writ told that the refund of excess cash balance in terms of Section 49 (6) read with Section 54 of the CGST Act doesnot effectively redress the petitioners grievance. So the only remedy which will enable the petitioner to enjoy the advantage of the seamless utilization of the input decrease is by way of rectification of its annual return, GSTR-3B, it added.
On the rear of the judgement, the company’s shares surged on Tuesday around 3 p.m. Bharti Airtel shares on the BSE were trading at Rs 545.60, higher by Rs 17.75 or 3.36 per cent from the previous close.