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 February 2020 Year 2020 This

Reversal of excesss input tax credit (ITC) - supplier of goods ...


Court Questions Disallowance of ITC After Supplier Overcharges VAT; Examines Legislative Intent to Prevent Tax Cascading Effect.

February 11, 2020

Case Laws     VAT and Sales Tax     HC

Reversal of excesss input tax credit (ITC) - supplier of goods paid VAT @12.5% instead of 4% - there was deliberate ploy on the part of the dealer who sold the capital goods to the petitioner by charging tax at 12.5% to liquidate accumulated credit - But, there is no reason why credit availed by the petitioner should be disallowed particularly in the light of the fact that intention of the legislature is to reduce the cascading effect of the tax the final product.

View Source

 


 

You may also like:

  1. The petitioner had availed Input Tax Credit (ITC) from certain suppliers whose registration was subsequently cancelled. The petitioner contended that at the relevant...

  2. Input Tax Credit (ITC) - Constitutional validity of section 16(2)(c) of the CGST/WBGST Act - non-deposit of tax in the Government account by the suppliers which have...

  3. Reversal of Input Tax Credit (ITC) - The court notes that the impugned order reversed the ITC based solely on the cancellation of the supplier's registration and...

  4. Validity of reassessment order - disallowance of ITC claim - The court examined the provisions of Section 29 of the Act, which pertains to the assessment of tax on...

  5. The High Court dismissed the petition seeking refund of Input Tax Credit (ITC) accrued under the Value Added Tax (VAT) regime upon transition to the Goods and Services...

  6. Advance Ruling application on maintainability - Reversal of input tax credit to extent of tax element in credit note - no agreement between parties on credit notes not...

  7. HC dismissed the petition challenging GST demand for AY 2017-2020. Petitioner allegedly facilitated tax evasion by passing ineligible Input Tax Credit (ITC). While...

  8. The High Court examined the constitutionality of u/s 16(2)(c) and 16(4) of the CGST/SGST Act regarding Input Tax Credit (ITC) restrictions. The Court held that the...

  9. The High Court upheld the validity of the impugned order u/s 107(11) of the Karnataka Goods and Services Act, 2017. The petitioner's contention that the adjudicating...

  10. Disallowance of VAT expenses - Disallowance as "fee" or "charge" u/s40(a)(iib) - The Assessee, a state government-owned company engaged in the wholesale business of...

  11. Validity of detention order - The petitioner argued that being a buyer from a GST-registered supplier, they had no means or obligation to verify the supplier's...

  12. Legislative Competence to Levy of stamp duty on ‘Bill of Entry’ (BoE) and on Delivery Orders (DO) - goods imported in Maharashtra - seek refund paid on stamp duty - The...

  13. The High Court examined the jurisdiction of the Micro and Small Enterprises Facilitation Council to refer disputes between the parties for arbitration under the 2006 Act....

  14. HC held that petitioner's claim for input tax credit (ITC) was valid under amended Section 16 provisions. Following precedent established in Sri Ganapathi Pandi...

  15. Jurisdiction of civil court u/s 34 of SARFAESI Act was in question. Suit for declaration and permanent prohibitory injunction was rejected by lower courts under Order...

 

Quick Updates:Latest Updates