2015 (12) TMI 1534 - SCH - VAT and Sales Tax

Benefit of input tax credit (ITC) on Packing material - finished goods were stock transferred - High Court held that appellant is not entitled to the benefit of ITC in respect of packing materials used for its finished goods, which were stock transferred. Even the Circular of 2008, does not as such clearly provide for the grant of such benefit. Lack of clarity and place for doubt in a stray sentence in a Circular cannot be seized upon by the appellant to claim that, contrary to the clear mandate of the Legislature, it should be given the benefit of ITC for the years 2008-2009, 2009-2010 and 2010-2011 reported in 2015 (10) TMI 290 - UTTARAKHAND HIGH COURT - Apex Court dismissed the Special Leave Petitions