https://www.taxtmi.com/caselaws?id=348550 The Supreme Court held that tax credit under Section 11(3)(b) of the Gujarat Value Added Tax Act should be reduced by 4% under both sub-clauses (ii) and (iii). The Court clarified that the reduction should apply in both circumstances as the legislature intended, with the limitation that the reduction cannot exceed the VAT paid. The decision overturned the High Court's ruling and emphasized the specific application of the reduction provisions based on the goods involved. en-us Fri, 22 Sep 2017 00:00:00 +0530 Mon, 27 Apr 2020 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348550 The Supreme Court held that tax credit under Section 11(3)(b) of the Gujarat Value Added Tax Act should be reduced by 4% under both sub-clauses (ii) and (iii). The Court clarified that the reduction should apply in both circumstances as the legislature intended, with the limitation that the reduction cannot exceed the VAT paid. The decision overturned the High Court's ruling and emphasized the specific application of the reduction provisions based on the goods involved. Case-Laws VAT and Sales Tax Fri, 22 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348550