https://www.taxtmi.com/caselaws?id=288296 Input tax credit cannot be reversed merely on alleged invisible loss of inputs consumed in manufacture, because the statutory reversal provision applies only to destruction, loss, transit damage, or destruction at an intermediary stage of production. Section 18 of the Tamil Nadu Value Added Tax Act, 2006 is not a self-contained provision and remains subject to the restrictions and conditions in Section 19. Circulars and notices directing ad hoc reversal on a uniform percentage basis were therefore unsustainable, though the authorities may issue fresh notices in accordance with law and state the basis for any proposed reversal or revision. en-us Wed, 04 Dec 2019 00:00:00 +0530 Sat, 30 May 2020 11:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288296 Input tax credit cannot be reversed merely on alleged invisible loss of inputs consumed in manufacture, because the statutory reversal provision applies only to destruction, loss, transit damage, or destruction at an intermediary stage of production. Section 18 of the Tamil Nadu Value Added Tax Act, 2006 is not a self-contained provision and remains subject to the restrictions and conditions in Section 19. Circulars and notices directing ad hoc reversal on a uniform percentage basis were therefore unsustainable, though the authorities may issue fresh notices in accordance with law and state the basis for any proposed reversal or revision. Case-Laws VAT and Sales Tax Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288296