Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
VAT - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Restriction on input tax credit - The State only wished to ...

VAT and Sales Tax

June 3, 2016

Restriction on input tax credit - The State only wished to provide the benefit of ITC in a limited manner even in respect of raw materials used for production of finished goods, which are stock transferred. We cannot deny the right of the State with its plenary powers of legislation within the field of legislation, which is admittedly and legitimately exercised by it otherwise, the right to raise taxes. - HC

View Source

 


 

You may also like:

  1. Supplies of goods in respect of which no refund of unutilised input tax credit shall be allowed - Notification as amended [restriction of ITC on certain fabrics]

  2. Reversal of ITC in respect of Capital Goods in certain cases - Manner of determination of input tax credit - Rule 43 of the Central Goods and Services Tax Rules, 2017 as amended.

  3. Input Tax Credit (ITC) is a vested right or concession - Can government impose conditions or restrictions for availing ITC?

  4. Input Tax Credit - A person, registered in WB, cannot claim ITC for CGST & SGST of other states - He cannot adjust the ITC of one state’s CGST for payment of another state’s CGST.

  5. Constitutional validity of restriction on input tax credit (ITC) when goods are sold below the purchase price - RVAT - validity upheld - HC

  6. Input Tax Credit (ITC) - National Dairy Development Board (NDDB) can be considered as financial institution for the purpose of availing credit to the extent of fifty...

  7. CENVAT Credit - input services - The appellants are entitled for the Cenvat Credit on the maintenance services provided by Tata Motors Ltd. in respect of maintenance...

  8. Input tax credit (ITC) - Post purchase discount - The Applicant can avail Input Tax Credit only to the extent of the invoice value less the discounts.

  9. Input Tax Credit (ITC) - As rightly contended by the learned Additional Advocate General by placing reliance upon the settled proposition of law that ITC is only a...

  10. Clarification in respect of apportionment of input tax credit (ITC) in cases of business reorganization under section 18 (3) of WBGST Act read with rule 41(1) of WBGST Rules - SGST

 

Quick Updates:Latest Updates