The Supreme Court on Thursday barred the country's leading wireless telecom company - Bharti Airtel - from seeking Goods and Services Tax (GST) refund of Rs 923 crore. The top court allowed the government's plea against issuance of refund and set aside Delhi High Court order that provided relief to Bharti Airtel.
Bharti Airtel had sought GST refund of Rs 923 crore for the July - September 2017 period, arguing that it had paid excess tax of Rs 823 crore as GSTR-2A form was non-operational during the time.
In May 2020, the Delhi High Court had allowed Bharti Airtel's plea, directing the government to verify and refund the amount claimed. But the central government challenged the High Court order in July last year and moved the top court.
The central government had argued in its plea that Bharti Airtel had under-reported input tax credit for the period between July 2017 and September 2017.
Bharti Airtel shares traded nearly 1 per cent lower at Rs 696.25 on the BSE, post the Supreme Court's order.