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VAT - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Input tax credit - The assessee claimed input tax credit by ...

VAT and Sales Tax

June 10, 2015

Input tax credit - The assessee claimed input tax credit by depicting the true and correct facts. Though we have decided the case against the assessee, but it cannot be said that the dealer had claimed this input tax credit with a view to evade or avoid payment of tax. It is a plain and simple case of different interpretations of the provisions of law. - Minimum penalty of 10% imposed - HC

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