https://www.taxtmi.com/highlights?id=60203 Levy of KST Act and KVAT Act on Liquor - right for disallowing the ITC claimed by the petitioner - There is no cavil with respect to the legal principle enunciated by the Hon’ble Apex Court regarding the speech made by the Hon’ble Finance Minister in moving the Bill would be significant in interpreting the provision. But the input tax credit has to be determined as per section 10 of the KVAT Act. There was no bar for the assessee to collect the output tax in its entirety by its buyers. - HC en-us Fri, 22 Oct 2021 11:15:17 +0530 Fri, 22 Oct 2021 11:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60203 Levy of KST Act and KVAT Act on Liquor - right for disallowing the ITC claimed by the petitioner - There is no cavil with respect to the legal principle enunciated by the Hon’ble Apex Court regarding the speech made by the Hon’ble Finance Minister in moving the Bill would be significant in interpreting the provision. But the input tax credit has to be determined as per section 10 of the KVAT Act. There was no bar for the assessee to collect the output tax in its entirety by its buyers. - HC Highlights VAT and Sales Tax Fri, 22 Oct 2021 11:15:17 +0530 https://www.taxtmi.com/highlights?id=60203