Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
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The HC held that Rule 86-A of the CGST Rules cannot be construed to effectuate "negative blocking" of Input Tax Credit by precluding credits that were not present in the petitioner's Electronic Credit Ledger on the date the satisfaction and blocking order were recorded. Applying a literal construction of the taxing statute, the court found no ambiguity permitting the blocking of prospective or subsequently accruing ITC and concluded such an interpretation would exceed the rule-making power and contradict the rule framers' intent. The impugned blocking notice was quashed and set aside; the petition succeeded and the application was disposed of.
The HC held that Rule 86-A of the CGST Rules cannot be construed to effectuate "negative blocking" of Input Tax Credit by precluding credits that were not present in the petitioner's Electronic Credit Ledger on the date the satisfaction and blocking order were recorded. Applying a literal construction of the taxing statute, the court found no ambiguity permitting the blocking of prospective or subsequently accruing ITC and concluded such an interpretation would exceed the rule-making power and contradict the rule framers' intent. The impugned blocking notice was quashed and set aside; the petition succeeded and the application was disposed of.
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