https://www.taxtmi.com/caselaws?id=405624 Input tax credit under the Karnataka VAT framework is treated as a substantive statutory set-off, and the note states that eligible credit is not lost merely because the claim was not reflected in the original or revised return within the filing period, where the Act itself does not impose a time bar. It also explains that forfeiture under the wrong-collection provision applies only when tax has actually been collected, or purportedly collected, from another person; a mere higher payment made by mistake does not satisfy that condition. On that reasoning, the dealer's credit claim was upheld and forfeiture was rejected. en-us Fri, 19 Feb 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405624 Input tax credit under the Karnataka VAT framework is treated as a substantive statutory set-off, and the note states that eligible credit is not lost merely because the claim was not reflected in the original or revised return within the filing period, where the Act itself does not impose a time bar. It also explains that forfeiture under the wrong-collection provision applies only when tax has actually been collected, or purportedly collected, from another person; a mere higher payment made by mistake does not satisfy that condition. On that reasoning, the dealer's credit claim was upheld and forfeiture was rejected. Case-Laws VAT and Sales Tax Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405624