Restriction on input tax credit - The State only wished to ...

Court Upholds State's Right to Restrict Input Tax Credit Benefits on Stock Transferred Goods Under Legislative Powers.

June 3, 2016

Case Laws VAT and Sales Tax HC

Restriction on input tax credit - The State only wished to provide the benefit of ITC in a limited manner even in respect of raw materials used for production of finished goods, which are stock transferred. We cannot deny the right of the State with its plenary powers of legislation within the field of legislation, which is admittedly and legitimately exercised by it otherwise, the right to raise taxes. - HC

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Restriction on input tax credit - The State only wished to ...

Court Upholds State's Right to Restrict Input Tax Credit Benefits on Stock Transferred Goods Under Legislative Powers.

June 3, 2016

Case Laws VAT and Sales Tax HC

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