Reversal of Input Tax Credit (ITC) - manufacturing / invisible ...

Court Allows ITC for Manufacturing Losses u/s 19(2)(ii) of TNVAT Act, Despite Section 19(9) Invocation.

March 23, 2023

Case Laws VAT and Sales Tax HC

Reversal of Input Tax Credit (ITC) - manufacturing / invisible loss - The expressions ''use'' in manufacture on the one hand and “damaged” and “destroyed” are antithetical and irreconcilable with each other - Applying any of the above tests viz., test of indispensability, quantitative requirement, commercial expediency the irresistible conclusion is that manufacturing/invisible loss which is inevitable/unavoidable/inherent part of manufacturing process cannot be denied the benefit of Input Tax Credit in terms of Section 19(2)(ii) of the TNVAT Act invoking Section 19(9) of the TNVAT ACT. - HC

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Reversal of Input Tax Credit (ITC) - manufacturing / invisible ...

Court Allows ITC for Manufacturing Losses u/s 19(2)(ii) of TNVAT Act, Despite Section 19(9) Invocation.

March 23, 2023

Case Laws VAT and Sales Tax HC

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