Exemption in terms of Entry 65/Schedule A of TNVAT Act - The ...

Court Rules Denying ITC Benefit Contradicts Legislative Intent of Entry 65/Schedule A, TNVAT Act.

March 23, 2021

Case Laws VAT and Sales Tax HC

Exemption in terms of Entry 65/Schedule A of TNVAT Act - The feature of input tax credit is what gives value added taxes their main economic characteristic, that of neutrality. The full right to deduction of input tax through the supply chain, with the exception of the final consumer, ensures neutrality of the tax, whatever be the nature of the product, the structure of the distribution chain and the technical means used for its delivery, either via brick and mortar establishments, physical delivery or the Internet. This is a measure of avoiding the ills of cascading taxes. To deny the petitioner the benefit of ITC by thrusting an exemption not claimed by it, upon it, will be contrary to the scheme of the enactment. - HC

View Source

← Previous Next →

Exemption in terms of Entry 65/Schedule A of TNVAT Act - The ...

Court Rules Denying ITC Benefit Contradicts Legislative Intent of Entry 65/Schedule A, TNVAT Act.

March 23, 2021

Case Laws VAT and Sales Tax HC

You may also like:

CESTAT held that appellant was entitled to benefit under N/N. 94/96-Cus for imported goods that were initially exported and returned. While the adjudicating authority...

Dishonour of Cheque - Grant of Bail - Mandate to deposit of a minimum of twenty percent of the fine or compensation awarded by the trial court - While acknowledging the...

The High Court directed the respondent authorities to allow the petitioner to amend the shipping bills u/s 149 of the Customs Act, 1962, and process the claim for the...

Legislative Competence to Levy of stamp duty on ‘Bill of Entry’ (BoE) and on Delivery Orders (DO) - goods imported in Maharashtra - seek refund paid on stamp duty - The...

HC held that petitioner's claim for input tax credit (ITC) was valid under amended Section 16 provisions. Following precedent established in Sri Ganapathi Pandi...

Input Tax Credit (ITC) - availability of inputs to the Assesses when the Godowns constructed by him is entirely meant for renting it out for Commercial purposes to...

Inconsistent Rule with statutory provision - Section 18(6) of the JVAT Act, 2005 does not contemplate production of JVAT -404 Forms as a mandatory condition for availing...

The applicant's advance ruling application seeking nil rate of GST on stamp duty and registration fees paid for registering a mining lease deed is inadmissible. The...

This is a summary of a court judgment regarding the interpretation of Rule 86A of the Central Goods and Services Tax (CGST) Rules, which deals with the blocking of input...

The Appellate Authority for Advance Ruling (AAR) ruled that R.V. Hydraulic Services is not eligible to claim Input Tax Credit (ITC) on the Integrated Goods and Services...

Salary income - Taxability of "fringe benefits" or "amenities" provided to employees - Validity of Section 17(2)(viii) and Rule 3(7)(i) - benefit enjoyed by bank...

HC allowed petition regarding Input Tax Credit (ITC) claims under GST regime. Following precedent in Sri Ganapathi Pandi Industries case, court held that retrospective...

The High Court held that the products Para Cumidine (ITC HS Code 2921 49 20) and Diaminostilbene 2, 2-disulphonic acid (DASDA) (ITC HS Code 2921 59 40) were part of...

Scope of IBC - dishonor of cheque - compounding of offences - Recovery of the dues - Section 65(1) of the Code does not expressly mention ‘Debt Recovery Action’ under...

HC allowed the petition, holding that a manufacturer/exporter can claim one input-side benefit and one output-side benefit without constituting double benefit. The court...

Quick Updates: