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CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
The High Court held that the negative blocking of the Electronic Credit Ledger (ECL) of the writ petitioner by the respondents, purportedly exercising powers u/r 86A of the Central Goods and Services Tax Rules, 2017, cannot be sustained. The issue of negative blocking stands conclusively decided in favor of the writ petitioner in light of the judgment in Best Crop Science Pvt. Ltd. v. Principal Commissioner, where it was held that orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing such orders (referred to as Negative blocking) are set aside. Consequently, the petition was allowed.
The High Court held that the negative blocking of the Electronic Credit Ledger (ECL) of the writ petitioner by the respondents, purportedly exercising powers u/r 86A of the Central Goods and Services Tax Rules, 2017, cannot be sustained. The issue of negative blocking stands conclusively decided in favor of the writ petitioner in light of the judgment in Best Crop Science Pvt. Ltd. v. Principal Commissioner, where it was held that orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing such orders (referred to as Negative blocking) are set aside. Consequently, the petition was allowed.
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