Interpretation of statute - proviso to Section 19(2)(v) of the ...

VAT and Sales Tax

March 7, 2017

Interpretation of statute - proviso to Section 19(2)(v) of the TNVAT Act, 2006 - reversal of input tax credit (ITC) - the proviso, on account of erroneous interpretation by the Revenue, was causing difficulties for the manufacturers, is exemplified by the Statement of Objects and Reasons which was set forth, at the time of introduction of Act 5 of 2015 - HC

View Source

← Previous Next →

Interpretation of statute - proviso to Section 19(2)(v) of the ...

VAT and Sales Tax

March 7, 2017

You may also like:

Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

Reversal of Input Tax credit / ITC - financial credit note is issued for part amount of invoice - the financial credit note shall not be used as a conduit to transfer...

Reversal of Input Tax Credit (ITC) on furnace oil and LSHS oil - the furnace oil was used in the process of manufacturing of the final product and it has to be treated...

Reversal of input tax credit (ITC) - A plain reading of the section 19(2)(v) as it stood during the period in dispute and thereafter shows that it applies only to the...

Input tax credit - Reversal of ITC - the applicant can avail the Input Tax Credit of the full GST charged on the invoice of the supply and no proportionate reversal of...

Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

Input Tax Credit (ITC) - Interpretation of statute - meaning of word 'lapse' in Notification No. 20/2018-Central Tax (Rate) - the proviso seeks to lapse only such input...

A Case of Coerced Input Tax Credit Reversal - GST recovery during search and seizure proceedings.

Reversal of ITC - the sale of alcoholic liquor for human consumption is a non-taxable supply under Section 2(78) of the GST Act, 2017 and subsequently is an exempt...

Reversal of Input Tax Credit (ITC) - Availing ineligible input tax credit (ITC) - Necessary particulars as demanded were supplied or not - The...

Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

Input Tax Credit (ITC) - The position insofar as the right of the manufacturers to avail ITC is, it becomes an absolute right, once the inputs are used in the...

Reversal of input tax credit against the supply - Without furnishing any details to the assessee, the authorities could not have directed reversal of the input tax...

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...

Blocking of input tax credit - Provisional ITC - the ITC reversal mechanism, as laid down in section 41 read with Rules, is kept in abeyance. The facility to furnish...

Quick Updates: