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Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The High Court allowed the petitioner's writ petition and set aside the impugned order denying transition of CENVAT credit of Rs.1,39,31,604/- u/s 140(1) of the CGST Act. The court held that mere issuance of a show-cause notice, subsequently kept in abeyance, cannot disentitle the petitioner from claiming transition of the available CENVAT credit as on 30.06.2017 to the GST regime. The CENVAT credit available to the petitioner on the transition date was admissible for transition, irrespective of the pending inquiry's outcome under the earlier CENVAT regime.
The High Court allowed the petitioner's writ petition and set aside the impugned order denying transition of CENVAT credit of Rs.1,39,31,604/- u/s 140(1) of the CGST Act. The court held that mere issuance of a show-cause notice, subsequently kept in abeyance, cannot disentitle the petitioner from claiming transition of the available CENVAT credit as on 30.06.2017 to the GST regime. The CENVAT credit available to the petitioner on the transition date was admissible for transition, irrespective of the pending inquiry's outcome under the earlier CENVAT regime.
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