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The High Court dismissed the petition seeking refund of Input Tax Credit (ITC) accrued under the Value Added Tax (VAT) regime upon transition to the Goods and Services Tax (GST) regime. The court held that Section 18(a) allows carrying forward ITC from the VAT regime to be availed as set-off under GST for inputs held in stock. However, Section 18(2) prohibits availing credit after one year from the date of tax invoice. Transitional claims are subject to the limitation prescribed as on 27.12.2017 and the Supreme Court's direction providing a two-month window. Unless the claim is made in Form GSTR TRAN-1 within the stipulated time, no claim for ITC refund can be raised. The petitioner can only claim ITC as set-off against output tax, not as a cash refund.
The High Court dismissed the petition seeking refund of Input Tax Credit (ITC) accrued under the Value Added Tax (VAT) regime upon transition to the Goods and Services Tax (GST) regime. The court held that Section 18(a) allows carrying forward ITC from the VAT regime to be availed as set-off under GST for inputs held in stock. However, Section 18(2) prohibits availing credit after one year from the date of tax invoice. Transitional claims are subject to the limitation prescribed as on 27.12.2017 and the Supreme Court's direction providing a two-month window. Unless the claim is made in Form GSTR TRAN-1 within the stipulated time, no claim for ITC refund can be raised. The petitioner can only claim ITC as set-off against output tax, not as a cash refund.
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