Bombay High Court quashes IGST refund restriction cases

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.8%+0.6% vs market

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On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.4 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The Bombay High Court disposed of Laxmi Organic's writ petition and related cases challenging CGST Rule 96(10), which blocked exporters using the Advance Authorisation Scheme from claiming IGST refunds on final exports. In its 11 September 2025 judgment, the Court noted the rule was repealed on 8 October 2024, held unfinished proceedings would lapse, and set aside pending notices and orders. The company is assessing the implications.

Likely market impact

The ruling may support IGST refund claims, but the company has not quantified any financial benefit and is still assessing the impact.