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2019 (8) TMI 662 - HC - GSTTransition/migration of ITC - scaling down of ITC which is capable of migration / capable of transition into the GST Regime - Part of ITC given up and sought to be adjusted with VT / CST liability - deemed assessment u/s 22(2) of TNVAT Act - Assessment Year 2015-2016 - HELD THAT:- Revenue submitted that in the facts and circumstances of the instant case, adjustment sought for by the writ petitioner is permissible but subject to quantification / verification as adumbrated in Rule 121 of 'Tamil Nadu Goods and Services Tax Rules, 2017 If that be the case, the aforesaid verification process has to be completed and the outcome of the verification process will obviously impact the impugned order being given effect to. To be noted, as already mentioned above, writ petitioner accepts tax liability under the impugned order and what is put in issue in the instant writ petition is only the adjustment plea - the respondent shall do the verification exercise under Rule 121 of TNGST Rules as expeditiously as possible and until this exercise is completed, the impugned order will be kept in abeyance. Post verification, outcome of the verification process together with its impact on the impugned order shall be communicated to the writ petitioner within ten (10) working days from date of completion of verification / quantification as above under due acknowledgement - Petition disposed off.
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