No Refund of Unutilised ITC on Closure of Business Under Section 54 CGST Act, Must Be Reversed Under Section 29(5): Sikkim High Court

The dispute arose between Union of India and SICPA India Private Limited regarding the eligibility for refund under the Central Goods and Services Tax Act (CGST Act). SICPA claimed a refund of accumulated input tax credit (ITC) after closure of its business unit, relying on Section 49(6) of the CGST Act. The matter was contested as the government rejected the claim, citing provisions of Section 54(3). The case reached the…