https://www.taxtmi.com/caselaws?id=259054 Refund or input tax credit under the zero-rating scheme is a statutory concession subject to the Act's restrictions, including Section 19 and Section 19(9), so Section 18 cannot operate as a standalone right. A dealer must do more than show use of inputs in manufacture; the Assessing Authority must examine the nature and extent of loss on the facts of each case and determine whether the claim is barred by the statutory conditions. A uniform ad hoc percentage for invisible loss was rejected, and reversal orders based on that approach were set aside. The Act also permits action against an erroneous refund only in accordance with statutory procedure and due notice. en-us Wed, 26 Nov 2014 00:00:00 +0530 Sat, 24 Oct 2015 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259054 Refund or input tax credit under the zero-rating scheme is a statutory concession subject to the Act's restrictions, including Section 19 and Section 19(9), so Section 18 cannot operate as a standalone right. A dealer must do more than show use of inputs in manufacture; the Assessing Authority must examine the nature and extent of loss on the facts of each case and determine whether the claim is barred by the statutory conditions. A uniform ad hoc percentage for invisible loss was rejected, and reversal orders based on that approach were set aside. The Act also permits action against an erroneous refund only in accordance with statutory procedure and due notice. Case-Laws VAT and Sales Tax Wed, 26 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259054