https://www.taxtmi.com/caselaws?id=405307 Input tax credit under the Karnataka Value Added Tax Act, 2003 had to be claimed through the prescribed monthly returns, filed in the statutory form and within time; Form VAT 240 was only an audited statement in specified cases and did not replace a return. Reading the provisions on net tax, input tax deduction, revised returns and reassessment together, the Court held that credit could not be taken on the basis of Form VAT 240 alone. Treating that form as an independent basis for credit would make the return-filing scheme redundant and create an impermissible distinction between dealers. The discrimination challenge therefore also failed. en-us Fri, 05 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 11:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405307 Input tax credit under the Karnataka Value Added Tax Act, 2003 had to be claimed through the prescribed monthly returns, filed in the statutory form and within time; Form VAT 240 was only an audited statement in specified cases and did not replace a return. Reading the provisions on net tax, input tax deduction, revised returns and reassessment together, the Court held that credit could not be taken on the basis of Form VAT 240 alone. Treating that form as an independent basis for credit would make the return-filing scheme redundant and create an impermissible distinction between dealers. The discrimination challenge therefore also failed. Case-Laws VAT / Sales Tax Fri, 05 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405307