https://www.taxtmi.com/caselaws?id=326854 Input tax credit under the Tamil Nadu VAT Act was denied for duty paid on purchase of DEPB licences because, although the licences were treated as goods, they were not goods specified in the First Schedule and did not satisfy the statutory credit conditions in Section 19(1). The scheme of Section 19 was treated as a complete code for entitlement, denial, reversal, transfer and carry forward of credit. On that basis, the listed purposes in Section 19(2) were held to be enumerative rather than exhaustive, but that construction did not assist the assessee because the statutory requirements for credit on DEPB licences were not met. en-us Tue, 12 Apr 2016 00:00:00 +0530 Thu, 17 Nov 2016 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326854 Input tax credit under the Tamil Nadu VAT Act was denied for duty paid on purchase of DEPB licences because, although the licences were treated as goods, they were not goods specified in the First Schedule and did not satisfy the statutory credit conditions in Section 19(1). The scheme of Section 19 was treated as a complete code for entitlement, denial, reversal, transfer and carry forward of credit. On that basis, the listed purposes in Section 19(2) were held to be enumerative rather than exhaustive, but that construction did not assist the assessee because the statutory requirements for credit on DEPB licences were not met. Case-Laws VAT and Sales Tax Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326854