M/S Yash Petro Lubes And Chemicals, Faridabad vs. Union Of INDIA And Others

Facts

The petitioner, M/s Yash Petro Lubes & Chemicals, Faridabad, filed a writ petition before the Punjab and Haryana High Court. The matter was listed after a decision in certain Special Leave Petitions (SLPs) before the Supreme Court. The Supreme Court, in its order dated July 22, 2022, in SLP (C) Nos. 7425-7428 of 2020, directed the Goods and Services Tax Network (GSTN) to open a common portal for filing or revising forms for availing transitional credit (TRAN-1 and TRAN-2) for a period of two months, from September 1, 2022, to October 31, 2022. The Supreme Court also directed concerned officers to verify claims and pass orders within 90 days thereafter, and for the allowed credit to be reflected in the Electronic Credit Ledger. Following these directions, the counsel for the petitioner stated that the instant petition was not pressed.

Held

The High Court noted the directions issued by the Supreme Court on July 22, 2022, in SLP (C) Nos. 7425-7428 of 2020. These directions mandated GSTN to open a common portal for filing or revising TRAN-1 and TRAN-2 forms for availing transitional credit between September 1, 2022, and October 31, 2022. The Supreme Court also stipulated that aggrieved registered assessees could file or revise their forms, irrespective of prior writ petitions or decisions by the ITGRC. Furthermore, concerned officers were given 90 days to verify claims and pass orders, with allowed credit to be reflected in the Electronic Credit Ledger. In view of these comprehensive directions from the apex court, which provided a mechanism for addressing claims related to transitional credit, the counsel for the petitioner stated that the instant petition was not pressed. The High Court accordingly disposed of the petition, acknowledging that the Supreme Court's order would govern the petitioner's recourse.

Key Issues

1. Whether the petitioner is entitled to avail transitional credit through TRAN-1 and TRAN-2 forms, considering the Supreme Court's directions in SLP (C) Nos. 7425-7428 of 2020? The petitioner, M/s Yash Petro Lubes & Chemicals, Faridabad, had approached the High Court, presumably seeking a remedy related to transitional credit. The Supreme Court's order provided a specific window and procedure for taxpayers to file or revise their TRAN-1 and TRAN-2 forms to claim transitional credit. The petitioner's counsel, in light of these Supreme Court directions, chose not to press the present petition. The respondents, Union of India and others, were represented by their respective counsels. No specific arguments were recorded for the respondents as the petitioner did not press the petition.