https://www.taxtmi.com/caselaws?id=383699 A writ challenge to clause 12.5(c) of Part IV of Form 205B and Annexure V, which governed adjustment of input tax credit between VAT and Central Sales Tax and its treatment on migration to GST, became unnecessary after the respondents clarified the operating mechanism. The clarification stated that input tax credit reflected in the April-June 2017 monthly returns would first be applied against admitted output tax, and only any remaining credit would be considered under Annexure V to Form 205B; any negative balance arising from missing declaration forms would be treated as nil for net credit computation and assessment. As the petitioners accepted that no grievance survived, the Court disposed of the writ without deciding the vires challenge. en-us Wed, 17 Jul 2019 00:00:00 +0530 Mon, 29 Jul 2019 20:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383699 A writ challenge to clause 12.5(c) of Part IV of Form 205B and Annexure V, which governed adjustment of input tax credit between VAT and Central Sales Tax and its treatment on migration to GST, became unnecessary after the respondents clarified the operating mechanism. The clarification stated that input tax credit reflected in the April-June 2017 monthly returns would first be applied against admitted output tax, and only any remaining credit would be considered under Annexure V to Form 205B; any negative balance arising from missing declaration forms would be treated as nil for net credit computation and assessment. As the petitioners accepted that no grievance survived, the Court disposed of the writ without deciding the vires challenge. Case-Laws VAT and Sales Tax Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383699