Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
VAT - Highlights / Catch Notes

Home Highlights November 2016 Year 2016 This

Input Tax Credit - sale of goods at a rate lower than the price ...

Case Laws     VAT and Sales Tax

November 24, 2016

Input Tax Credit - sale of goods at a rate lower than the price shown in the VAT invoice (purchase price) - Input Tax Credit is allowable as per VAT invoice irrespective of sale value of the goods - HC

View Source

 


 

You may also like:

  1. Input Tax Credit - discount/incentive received - sale of goods at a rate lower than the price shown in the VAT invoice - ITC cannot be disallowed - HC

  2. Reversal of input tax credit (ITC) - A plain reading of the section 19(2)(v) as it stood during the period in dispute and thereafter shows that it applies only to the...

  3. Availing and utilization of Input Tax Credit - The applicant had initially opted to pay GST at a lower rate without availing full ITC on goods and services used in their...

  4. 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...

  5. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

  6. 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...

  7. Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

  8. Demand of Motor Vehicle tax based on local price of similar vehicle - in a case where the figures shown in the purchase invoice are not in any manner manipulated, and is...

  9. The Central Government, based on recommendations from the Goods and Services Tax Council, will cease accepting requests from the Competition Commission of India or...

  10. CENVAT Credit - The input service credit cannot be denied on the ground that it is shown in the ER1 return instead of the ST3 returns since the cross utilization of...

  11. The petitioner is required to calculate taxable turnover by excluding turnover not subjected to tax, exempt goods, and labor/service charges for works contracts as per...

  12. Penalty for false invoice - Section 55(2) AP VAT Act states that any VAT dealer, who issues a false tax invoice or receives and uses a tax invoice, knowing it to be...

  13. Bogus purchases - department had neither disputed the assessee's sales nor shown any discrepancy between the purchases shown and the sales declared - the Tribunal was...

  14. 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....

  15. Denial of Input tax credit - RVAT Act does not prohibit selling of goods lower than purchase value as per VAT invoice but ITC is to be allowed on the basis of VAT invoice - HC

 

Quick Updates:Latest Updates