Section 97 of the CGST Act, 2017— Meaning of “Lapse” in Notification No.20/2018-Central Tax (Rate) — An application filed under Section 97(1) of the CGST Act, 2017 seeking an advance ruling on as to whether the meaning of the word ‘lapse’ in Notification No. 20/2018-Central Tax (Rate) would mean lapse for refund or lapse for utilization of input tax credit for payment of output tax liability.
Held that:-The Hon’ble Authority held that Notification No. 20/2018-Central Tax (Rate) dated 26.07.2018 deals with refund of inverted duty structure only. — Uttranchal Filament (India)  13 TAXLOK.COM 098 (AAR-Uttarakhand)