The Supreme Court SC disallowed Bharti Airtel from seeking Rs 923 crore GST refund on Thursday.
The Delhi High Court allowed the government's plea against the issuance of the refund, setting aside the relief of the government to the telco.
Bharti Airtel had the Rs 923 crore GST refund for July-September 2017 contending that it had paid excess tax of Rs 823 crore for the said period since the GSTR - 2 A form was not functional during that time.
The Delhi High Court had allowed the telco's plea in May 2020, directing the government to refund and verify the amount claimed.
However, the government in its plea argued that Bharti Airtel had underreported input tax credit for July-September 2017.
The telco's stock dropped 1% to Rs 696.25 on the BSE post the SC order.
The plea has been filed against our respondents - the Central Board of Direct Taxes CBDT through its chairman, Bharti Airtel, commissioner via the Finance Ministry's Department of Revenue Commissioner and the GST Council through its secretary.
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