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2012 (2) TMI 452 - HC - VAT and Sales TaxInput tax credit - disallowance on the ground that the registration of M/s. Karat 24, from whom the petitioner purchased bullion, was cancelled on February 28, 2010 - Held that: - section 13(1) of the 2005 Act entitles input-tax credit to the VAT dealer for the tax charged in respect of all purchases of taxable goods, made by that dealer during the tax period. The failure on the part of M/s. Karat 24 to file returns or remit the tax component of the sales made to the petitioner cannot per se be a ground to deny input-tax credit - the invoices produced by the petitioner are not fraudulent or in dispute that it had been issued by M/s. Karat 24 or that the purchaser did not in fact obtain the invoices from the registered dealer - input tax credit cannot be denied - petition allowed - decided in favor of petitioner.
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