Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
HC held that petitioner was entitled to refund of Rs. 3,90,762 representing unadjusted unutilized input tax credit under VAT Act despite not carrying forward such credit under GST regime. Court found that Section 174(2)(c) of GST Act preserved rights acquired under repealed VAT Act. Since mandatory assessment period under Section 34(2) of VAT Act had expired and petitioner proved compliance with disposal requirements under Section 11(3) read with Rule 15(6) of VAT Rules, respondent authority was directed to process refund within twelve weeks. Petition allowed, establishing that failure to transition credit to GST regime does not extinguish entitlement to VAT refund where statutory conditions are satisfied.
HC held that petitioner was entitled to refund of Rs. 3,90,762 representing unadjusted unutilized input tax credit under VAT Act despite not carrying forward such credit under GST regime. Court found that Section 174(2)(c) of GST Act preserved rights acquired under repealed VAT Act. Since mandatory assessment period under Section 34(2) of VAT Act had expired and petitioner proved compliance with disposal requirements under Section 11(3) read with Rule 15(6) of VAT Rules, respondent authority was directed to process refund within twelve weeks. Petition allowed, establishing that failure to transition credit to GST regime does not extinguish entitlement to VAT refund where statutory conditions are satisfied.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
