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 January 2013 Year 2013 This

Whether a leasing company shall avail the Input Credit available ...


Court Rules Leasing Company Can't Claim Proportionate Input Credit Under VAT Act and Rules.

January 25, 2013

Case Laws     VAT and Sales Tax     HC

Whether a leasing company shall avail the Input Credit available to them on proportionate basis? - the question of spreading over his credit, proportionately or otherwise, is unfeasible and in any case not borne out by the VAT Act or the Rules - HC

View Source

 


 

You may also like:

  1. Input tax credit (ITC) - proportionate claim subject to the goods being capitalised in their books of account, the applicant is eligible to claim Input tax on such goods...

  2. Admissibility of input tax credit - inward supply of services by way of License Fee Recovery (LFR) on leasing of pumps along with the equipment - The AAR concluded that...

  3. Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

  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. The High Court set aside the assessment order denying input tax credit to the petitioner u/s 16(4) of the CGST/SGST Acts. It directed the authorities to consider the...

  6. The High Court dismissed the Revenue's petition challenging the order of the Single Judge. The court held that u/s 18(3) of the Tamil Nadu Value Added Tax Act, 2006, and...

  7. CENVAT Credit - non-reversal of proportionate credit - From application of the definition of ‘exempted services’ in rule 2 (e) of CENVAT Credit Rules, 2004, to the facts...

  8. Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...

  9. The Court dismissed the applications filed by the applicant company, SMS Textiles Limited, observing that it is a shell company of the company in liquidation and its...

  10. The High Court addressed the issue of linking services provided by a company to its separate registered units for taxation purposes under CENVAT Credit Rules. The court...

  11. Proportionate reversal of credit in respect of common input service in terms of Rule 6(3A)(a) of Cenvat Credit Rules, 2004 - It is seen that even prior to Rule 6 (3AA)...

  12. CENVAT Credit - trading activities - Rule 6 of CENVAT Credit Rules, 2004 deals solely with the situation of CENVAT Credit resulting from exempted services and exempted...

  13. 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...

  14. Reversal of CENVAT Credit - for the purpose of formula under rule 6(3A) is only total CENVAT credit of common input service and cannot include CENVAT credit on input...

  15. Reversal of credit - Rule 6(3A)(c)(iii) of Cenvat Credit Rules, 2004 - total Cenvat credit for the purpose of formula under Rule 6(3A) is only total credit of common...

 

Quick Updates:Latest Updates