Supplier's Tax Payment Failure Leads to Denial of Input Tax Credit; State Not Obligated to Grant ITC.

Supplier's Tax Payment Failure Leads to Denial of Input Tax Credit; State Not Obligated to Grant ITC. https://www.taxtmi.com/highlights?id=41144 Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax credit - Having not received the tax at the first instance of sale, there is no obligation on the State to grant input tax credit. en-us Sat, 01 Sep 2018 06:01:08 +0530 Sat, 01 Sep 2018 06:01:08 +0530 TaxTMI RSS Generator Supplier's Tax Payment Failure Leads to Denial of Input Tax Credit; State Not Obligated to Grant ITC. https://www.taxtmi.com/highlights?id=41144 Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax credit - Having not received the tax at the first instance of sale, there is no obligation on the State to grant input tax credit. Highlights VAT and Sales Tax Sat, 01 Sep 2018 06:01:08 +0530 https://www.taxtmi.com/highlights?id=41144