The Hon’ble Delhi High Court in the case of Kanika Exports v. Union of India & Ors. along with M/s Malik Seasoning and Spices Pvt. Ltd. v. Commissioner of GST [W.P.(C) 12512/2021 and W.P.(C) 17538/2022, order dated April 18, 2026] held that the relevant date for computing limitation period of two years under Section 54 for refund of unutilised ITC (including exports without payment of tax and inverted duty structure) for the period prior to amendment would be reckoned as per the unamended Explanation 2(e), i.e., end of the financial year, and the amended provision cannot be applied retrospectively to curtail vested rights.
