https://www.taxtmi.com/caselaws?id=199628 Section 19(17) of the Tamil Nadu VAT Act permits excess input tax credit determined for a year to be adjusted against any outstanding tax due from the dealer. Where an assessment ignores that statutory adjustment mechanism, the assessment cannot stand in its present form and must be reconsidered under the Act. The petitioner was therefore entitled to have the excess input tax credit taken into account, and the assessment was directed to be redone afresh in accordance with the statutory scheme governing adjustment of excess credit. en-us Thu, 29 Jan 2015 00:00:00 +0530 Thu, 08 Mar 2018 06:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199628 Section 19(17) of the Tamil Nadu VAT Act permits excess input tax credit determined for a year to be adjusted against any outstanding tax due from the dealer. Where an assessment ignores that statutory adjustment mechanism, the assessment cannot stand in its present form and must be reconsidered under the Act. The petitioner was therefore entitled to have the excess input tax credit taken into account, and the assessment was directed to be redone afresh in accordance with the statutory scheme governing adjustment of excess credit. Case-Laws VAT and Sales Tax Thu, 29 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199628