The High Court rejected a claim for proportional Input Tax ...

Claim for input tax credit rejected due to loss of goods not used in business. Plain reading of law shows credit repayable.

Case Laws VAT and Sales Tax

June 11, 2024

The High Court rejected a claim for proportional Input Tax Credit u/s 19 of the KVAT Act for losses like spillage, ground loss, and during transportation. The court held that input tax credit is repayable if goods are not used in business. Precedents showed that mere stock shortage does not imply suppression. Judgments u/s 19 (9) of TNVAT Act disentitled credit for goods lost in transit. The court upheld authorities' decision, dismissing the petition.

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The High Court rejected a claim for proportional Input Tax ...

Claim for input tax credit rejected due to loss of goods not used in business. Plain reading of law shows credit repayable.

Case Laws VAT and Sales Tax

June 11, 2024

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