https://www.taxtmi.com/caselaws?id=405158 A benchmark condition introduced by G.O.Ms.No.119 dated 13.4.1994 could not be applied to an industrial unit that had already commenced commercial production and obtained an eligibility certificate under G.O.Ms.No.500 dated 14.5.1990. The later condition operated prospectively only, so it could not be fastened on units whose eligibility had already crystallised under the earlier deferral scheme, and mere rescheduling of the deferral period did not alter that basis. As the inspection report also found no deviation or wrong availment of the deferral facility, the demand of interest on that footing was unsustainable. en-us Fri, 05 Feb 2021 00:00:00 +0530 Fri, 12 Mar 2021 08:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405158 A benchmark condition introduced by G.O.Ms.No.119 dated 13.4.1994 could not be applied to an industrial unit that had already commenced commercial production and obtained an eligibility certificate under G.O.Ms.No.500 dated 14.5.1990. The later condition operated prospectively only, so it could not be fastened on units whose eligibility had already crystallised under the earlier deferral scheme, and mere rescheduling of the deferral period did not alter that basis. As the inspection report also found no deviation or wrong availment of the deferral facility, the demand of interest on that footing was unsustainable. Case-Laws VAT and Sales Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405158