Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
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The High Court held that the issue of 'negative blocking' of Electronic Credit Ledger (ECL) as per the Central Goods and Services Tax Act, 2017 and Rules is no longer an open issue and stands concluded by its previous decision. The Court allowed the petition and set aside the orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing the impugned orders, terming it as 'negative blocking'. The action of the respondents in negatively blocking the ECL cannot be sustained.
The High Court held that the issue of 'negative blocking' of Electronic Credit Ledger (ECL) as per the Central Goods and Services Tax Act, 2017 and Rules is no longer an open issue and stands concluded by its previous decision. The Court allowed the petition and set aside the orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing the impugned orders, terming it as 'negative blocking'. The action of the respondents in negatively blocking the ECL cannot be sustained.
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