Input tax credit - it is not necessary that the Assessees have ...

Input Tax Credit Valid Even If Assessees Aren't Dealers in Same Commodity; DEPB Scrips Affecting Costs Are Eligible.

October 5, 2015

Case Laws VAT and Sales Tax HC

Input tax credit - it is not necessary that the Assessees have to be dealers in the same commodity, i.e. the DEPB scrips - As long as it is shown that use of the DEPB scrip has impacted the cost of the product that is sold, either directly or indirectly, the credit of the input tax paid on the DEPB scrip cannot be denied to the Assessees - HC

View Source

← Previous Next →

Input tax credit - it is not necessary that the Assessees have ...

Input Tax Credit Valid Even If Assessees Aren't Dealers in Same Commodity; DEPB Scrips Affecting Costs Are Eligible.

October 5, 2015

Case Laws VAT and Sales Tax HC

You may also like:

Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

Merely because while submitting the Form No.108 the assessee/dealer submitted the claim of Input Tax Credit more than which is held to be admissible on assessment may be...

Refund - Zero rated supplies - Computation of Turnover - sale of duty credit e-Scrips - Rule 42, Rule 89(4) and Rule 89(4B) of the CGST Act - The relevancy of the...

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

Re credit - Liveliness of DEPB scrip - whether such credit can be allowed on a live scrip or even though the scrip had expired credit can be allowed on that scrip -...

The High Court held that u/s 54 of the Goods and Services Tax Act, 2017, when the input tax credit paid is higher than the output tax, the dealer is entitled to seek a...

Input tax credit - The assessee claimed input tax credit by depicting the true and correct facts. Though we have decided the case against the assessee, but it cannot be...

Input tax credit - duty paying invoices - case of petitioner is that the petitioner had availed Input Tax Credit on the strength of invoices issued by dealers who had...

Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

Input tax credit - denial on the ground that the said input tax related to purchases effected from seven dealers, whose returns were not traceable - no input tax credit...

Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

Cenvat Credit - Forged DEPB Scrips - burden of proof regarding the admissibility of the Cenvat credit shall lie upon the manufacture taking such credit - credit to be...

Refund of CVD and Special Additional Duty (SAD) - claim were rejected on the ground that DEPB scrips cannot be re- credited - After granting exemption subject to certain...

Validity of reassessment order - Input tax credit on purchases from three dealers - a bonafide purchaser cannot be put at jeopardy, when he has done all that the law...

Quick Updates: