https://www.taxtmi.com/caselaws?id=371653 Input tax credit could not be restricted to the tax notionally payable at the notified rate where the assessee had actually paid tax on purchase of the same goods. The statutory definition of input tax covered tax "paid or payable", and the credit provision allowed full credit for purchases used in taxable sales inside the State. On that wording, there was no basis to confine credit to the scheduled rate merely because the selling dealer may have realised excess tax. In the absence of any finding that the assessee had passed on the burden, reversal of credit was unjustified and the issue was decided in favour of the assessee. en-us Wed, 05 Dec 2018 00:00:00 +0530 Mon, 14 Oct 2019 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371653 Input tax credit could not be restricted to the tax notionally payable at the notified rate where the assessee had actually paid tax on purchase of the same goods. The statutory definition of input tax covered tax "paid or payable", and the credit provision allowed full credit for purchases used in taxable sales inside the State. On that wording, there was no basis to confine credit to the scheduled rate merely because the selling dealer may have realised excess tax. In the absence of any finding that the assessee had passed on the burden, reversal of credit was unjustified and the issue was decided in favour of the assessee. Case-Laws VAT and Sales Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371653