https://www.taxtmi.com/caselaws?id=407054 Input tax credit under the Tamil Nadu Value Added Tax Act, 2006 is a statutory concession usable only in the manner permitted by the Act and Rules. Credit could not be adjusted against Central Sales Tax liability unless the VAT law validly permitted it, including compliance with conditions such as production of Form C where required. The scheme also did not allow unutilised credit to be set off against past tax arrears outside the prescribed time limits for adjustment or refund, and credit not claimed or adjusted within time could lapse to Government under the statutory framework. en-us Fri, 09 Apr 2021 00:00:00 +0530 Thu, 29 Apr 2021 10:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407054 Input tax credit under the Tamil Nadu Value Added Tax Act, 2006 is a statutory concession usable only in the manner permitted by the Act and Rules. Credit could not be adjusted against Central Sales Tax liability unless the VAT law validly permitted it, including compliance with conditions such as production of Form C where required. The scheme also did not allow unutilised credit to be set off against past tax arrears outside the prescribed time limits for adjustment or refund, and credit not claimed or adjusted within time could lapse to Government under the statutory framework. Case-Laws VAT and Sales Tax Fri, 09 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407054