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VAT - Highlights / Catch Notes

Home Highlights March 2020 Year 2020 This

Reduction of Input Tax Credit - purchases of hides and skins ...

VAT and Sales Tax

March 4, 2020

Reduction of Input Tax Credit - purchases of hides and skins resold in the course of inter-State trade and commerce - denial of reimbursement as per section 15(b) of the CST Act - t the impugned notification does not relate only to declared goods, the entire notification cannot be struck down. However, the notification has to be read down to mean that the non-entitlement to input tax credit provided thereunder shall not be applicable to goods which are both purchased and sold as declared goods. - HC

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