Home Highlights April 2013 Year 2013 This

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1. Input tax credit - registration certificates of the selling dealers have been cancelled with retrospective effect - credit can not be denied for the transaction when R/C...

2. Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

3. Validity of reassessment order - Input tax credit on purchases from three dealers - a bonafide purchaser cannot be put at jeopardy, when he has done all that the law...

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

5. Input Tax Credit (denied retrospectively) - denial on account of cancellation of the VAT registration of the dealers (who have effected sale of the goods to these...

6. Input tax credit - Denial of ITC in the hands of purchasing dealer or recovery from the seller for failure to deposit the tax - Prior to amendment and substitution of...

7. Input tax credit - KVAT Act - in the absence of any other allegations made against the purchasing dealer in the assessment orders, merely for the reason that selling...

8. Input Tax Credit denied - availment and utilisation of ITC by the petitioner against invoices issued without actual receipt of goods - According to the dictum of the...

9. Cenvat credit on purchase of raw material - sponge iron being the raw material/inputs purchased from registered dealer - goods received on endorsed invoices - goods were...

10. Input Tax Credit (ITC) - there cannot be breach of principles of natural justice in disallowance of the Input Tax Credit in the hands of the petitioner-assessee, if the...