https://www.taxtmi.com/caselaws?id=259084 Admissible input tax credit is first adjusted against a dealer's current-year output tax liability, then against central sales tax liability for the same period, with only any remaining balance carried forward. An excessive original credit claim does not prevent adjustment of the amount ultimately found admissible on assessment. Interest is payable only on tax remaining after the statutory set-off, and penalty does not survive where admissible credit is properly given effect. Although an appeal dismissed for failure to make a pre-deposit would ordinarily require consideration of that procedural issue and remand, a merits determination may be retained where the substantive issue is already settled and remand would serve no purpose. en-us Wed, 15 Apr 2015 00:00:00 +0530 Wed, 29 Apr 2015 07:47:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259084 Admissible input tax credit is first adjusted against a dealer's current-year output tax liability, then against central sales tax liability for the same period, with only any remaining balance carried forward. An excessive original credit claim does not prevent adjustment of the amount ultimately found admissible on assessment. Interest is payable only on tax remaining after the statutory set-off, and penalty does not survive where admissible credit is properly given effect. Although an appeal dismissed for failure to make a pre-deposit would ordinarily require consideration of that procedural issue and remand, a merits determination may be retained where the substantive issue is already settled and remand would serve no purpose. Case-Laws VAT and Sales Tax Wed, 15 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259084