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TMI Blog2020 (5) TMI 495X X X X Extracts X X X X X X X X Extracts X X X X ..... e was no provision for carrying forward of such Input Tax Credit for adjustment of tax liability for the subsequent period - merely because the petitioner was a going concern by itself did not mean that the petitioner was not entitled to such refund of the excess of Input Tax Credit which the petitioner accumulated over a period of time. Merely because the TNVAT Act, 2006 was substituted with Tamil Nadu Goods and Service Tax Act, 2017 with effect from 1.7.2017 by itself did not mean that the petitioner would be entitled to refund merely because the petitioner filed Form Transfer-1 - The petitioner cannot be found fault with. It did not mean that the petitioner was not entitled to refund of the accumulated Input Tax Credit which was lying un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent to refund the accumulated credit of Input Tax Credit. 6. By the impugned order dated 12.09.2013, the respondent has rejected the refund of the Input Tax Credit with the following observations:- 2) As explained above the dealers have carried forwarded the closing balance of the Input Tax Credit Accumulation as on 31.03.2012 to the next year according to their Form-I returns filed for the months of April' 2012 & then to the next year also for the months of April'13 continuously and adjusting the output tax dues till the month of July'2013. Accordingly the closing balance of the Input Tax Credit Accumulation on 31.03.2012 has since been merged with the Input Tax Credit Claim and Adjustment for Output tax due till the month of July' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was adjusting the amount regularly. 11. The second issue that arises for consideration is whether in the light of changed scenario after the implementation of TNGST Act, 2017, the petitioner is entitled to refund. 12. I have considered the arguments advanced by the learned counsel for the petitioner and learned Government Advocate appearing for the respondent. The provisions relating to adjustment and refund of Input Tax Credit is specified in Sections 19(17) and 19(18) of the TNVAT Act, 2006. 13. As per the Sub-Clause (17) to Section 19, if the Input Tax Credit determined by the Assessing Authority for a year exceeds the tax liability for that year, the excess may be adjusted against any outstanding tax due from the dealer. 14. As per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 19. The opening balance of the Input Tax Credit lying unutilised on the 1st day of the Assessment Year could be 1st adjusted only towards any tax outstanding due of the dealer for the previous Assessment Year. After such adjustments, the Rule enjoins the Assessing Officer to mandatorily refund the excess Input Tax Credit to the dealer. 20. If the amount lying unutilised after due adjustment were refunded by the respondent then and there as was required under the provisions of the TNVAT Act, 2006, the question of petitioner being forced to transit credit would not have arisen. In this case, the petitioner has merely continued to accumulate the credit and adjust the amount. 21. Merely because the TNVAT Act, 2006 was substituted with Tam ..... X X X X Extracts X X X X X X X X Extracts X X X X
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