My client has running the trading unit in madurai , during the month of March 2013 he is having input credit Tax (ITC) value of Rupees 1,12,000 out put Tax is 1,18,300 balance tax he had deposited to the department but Asst commission has refused his input Tax credit and , Asst wants to collect input Tax credit payment of Rs., 112000 weather dealer is eligible to take Input tax credit or he has to pay ?
If is credit is allowing any case law is there in Tamil Nadu VAT ?
Trading Unit Faces ITC Disallowance Despite Eligibility Under Tamil Nadu VAT Act; Details on Denial Needed for Clarity. A trading unit in Madurai faced disallowance of input tax credit (ITC) by the Assistant Commissioner, despite having an ITC value of Rs. 1,12,000 against an output tax of Rs. 1,18,300. The Assistant Commissioner demanded payment of the ITC amount. Respondents in the forum indicated that the client is eligible for the ITC if it aligns with the Tamil Nadu VAT Act. However, they noted that the query lacks details, specifically the reasons for the denial by the Assistant Commissioner, which are crucial for providing a comprehensive response. (AI Summary)
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