https://www.taxtmi.com/caselaws?id=326900 The High Court of Madras addressed challenges related to VAT payment for invisible loss of yarn under the TNVAT Act. It clarified that Section 18 is subject to Section 19 restrictions, emphasizing the need for dealers to comply with conditions for refund claims. The Court ruled against adopting uniform percentages for invisible loss without proper examination, setting aside orders reversing Input Tax Credit based on adhoc percentages. Assessing Authorities were directed to issue clear show cause notices before revising refunds, ensuring compliance with Section 19 restrictions. The Court emphasized the importance of Form W undertaking for refund verification and provided guidance for handling invisible loss issues. The Writ Petitions were disposed in favor of adhering to outlined procedures. en-us Fri, 16 Oct 2015 00:00:00 +0530 Mon, 16 Jan 2017 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326900 The High Court of Madras addressed challenges related to VAT payment for invisible loss of yarn under the TNVAT Act. It clarified that Section 18 is subject to Section 19 restrictions, emphasizing the need for dealers to comply with conditions for refund claims. The Court ruled against adopting uniform percentages for invisible loss without proper examination, setting aside orders reversing Input Tax Credit based on adhoc percentages. Assessing Authorities were directed to issue clear show cause notices before revising refunds, ensuring compliance with Section 19 restrictions. The Court emphasized the importance of Form W undertaking for refund verification and provided guidance for handling invisible loss issues. The Writ Petitions were disposed in favor of adhering to outlined procedures. Case-Laws VAT and Sales Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326900