https://www.taxtmi.com/caselaws?id=258898 Admissible input tax credit, once determined on assessment under the Gujarat VAT scheme, must first be adjusted against the current year's output tax liability; only any remaining balance can be carried forward or applied further. A mistaken carry-forward entry in the return does not defeat that adjustment where the credit is otherwise admissible. Where surplus input tax credit is available to meet the assessed demand, the text states that interest and penalty are not sustainable because the tax evasion element is absent for that period. en-us Fri, 20 Mar 2015 00:00:00 +0530 Wed, 22 Apr 2015 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258898 Admissible input tax credit, once determined on assessment under the Gujarat VAT scheme, must first be adjusted against the current year's output tax liability; only any remaining balance can be carried forward or applied further. A mistaken carry-forward entry in the return does not defeat that adjustment where the credit is otherwise admissible. Where surplus input tax credit is available to meet the assessed demand, the text states that interest and penalty are not sustainable because the tax evasion element is absent for that period. Case-Laws VAT and Sales Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258898