TMI BlogInput Tax Credit Eligibility under GST Legislation: Time-Bound Compliance in GST ITC CasesX X X X Extracts X X X X X X X X Extracts X X X X ..... lity and statutory compliance for claiming Input Tax Credit (ITC) under the GST Act. The appellant challenges a decision denying ITC based on the contention that tax returns were submitted after the statutory deadline. The crux of the dispute lies in interpreting Section 16 of the GST Act , which regulates the conditions for availing ITC, against the backdrop of compliance requirements. Lega ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an be executed through procedural formalities, irrespective of time limits under Section 16(4). Interpretation of Section 16 : The contention is that Section 16(1) does not stipulate a time limit, and Section 16(2) should take precedence over Section 16(4). Respondent's Perspective : Holistic Statutory Interpretation : The respondents advocate for an integrated int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 16(2) of the GST Act is pivotal. Jurisprudence indicates that such clauses are meant to provide overriding effect over conflicting provisions but not over complementary ones. Concessionary Aspect of ITC : ITC is regarded as a concession rather than an absolute right. Therefore, the conditions under which this concession is offered, including time limitations, are to be rigorously ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the writ petition, underscoring the necessity for strict adherence to statutory provisions in tax matters. Broader Implications and Recommendations Business Implications : This judgment highlights the critical need for businesses to diligently follow statutory deadlines and procedures in tax matters, particularly regarding ITC claims. Legal Precedential Value : Thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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