Reversal of Input tax Credit - on purchase of R.E.P. license - ...

High Court Rules ITC Applies When Import License is Used for Goods, Not Just License Sale.

January 25, 2023

Case Laws VAT and Sales Tax HC

Reversal of Input tax Credit - on purchase of R.E.P. license - the assessee-dealer had purchased import license from another person after paying the taxes as was applicable and the licence, which was in a intangible form was converted into a tangible form by the assessee importing chemical from outside the country. - The findings recorded by the Tribunal to the extent that I.T.C. can only be availed in case the assessee-dealer selling the licence itself and not importing the goods using the said import license and reselling the same in the market is not correct - HC

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Reversal of Input tax Credit - on purchase of R.E.P. license - ...

High Court Rules ITC Applies When Import License is Used for Goods, Not Just License Sale.

January 25, 2023

Case Laws VAT and Sales Tax HC

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