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GST - Explanation 2(d) or Explanation 2(h) of Section 54 of CGST Act, 2017 - Refund of tax pursuant to Conciliation agreement between the parties, ‘Relevant date’ for the start of Limitation period - Refund claim in relation to excess tax paid by petitioner to the Department pursuant to a rental agreement with a third party. The dispute between petitioner-DMRC and party-KSSPL was resolved through a conciliation process, which resulted in a reduction of the lease amount by 40% and maintenance charges - For the purpose of the refund applications, whether the ‘relevant date’ is to be read in terms of explanation 2(d) or 2(h) of Section 54 of the CGST Act - HELD - The 'relevant date' for the purpose of filing the refund application would be the date of the Conciliation agreement under Section 54 Explanation 2(d) of the CGST Act and not the date of payment of tax under Explanation 2(h). The conciliation agreement is like an arbitral award, which is in effect, equivalent to a decree of the Civil Court as per Section 36 of the Arbitration and Conciliation Act - In cases where the value of the subject matter contract is disputed, the exact extent of tax payable is not ascertainable at the initial stages, and it is only when the dispute is subsequently settled that the exact extent of tax payable/refundable becomes ascertainable - In the present case, the conciliation agreement conclusively determined the contractual value and enabled the crystallisation of the quantum of excess tax paid. Therefore, the refund applications filed by petitioner within two years from the date of the conciliation agreement are within the limitation period - the impugned order is set aside and the Department is directed to process the refund along with applicable interest – The writ petition is allowed
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