Assessee Must Verify Supplier's Trustworthiness and Document Genuineness for CENVAT Credit; Cheque Payment Supports Bona Fides.

Assessee Must Verify Supplier's Trustworthiness and Document Genuineness for CENVAT Credit; Cheque Payment Supports Bona Fides. https://www.taxtmi.com/highlights?id=62242 CENVAT Credit - bogus transaction - fake invoices - The only reasonable step which he can take is to ensure that the supplier is trustworthy, the inputs are in fact received and that the documents, prima facie, appear to be genuine. The fact that the assessee made payment by cheque was held to be a proof of his bona fides - Credit cannot be denied - AT en-us Thu, 03 Mar 2022 10:04:46 +0530 Thu, 03 Mar 2022 10:04:46 +0530 TaxTMI RSS Generator Assessee Must Verify Supplier's Trustworthiness and Document Genuineness for CENVAT Credit; Cheque Payment Supports Bona Fides. https://www.taxtmi.com/highlights?id=62242 CENVAT Credit - bogus transaction - fake invoices - The only reasonable step which he can take is to ensure that the supplier is trustworthy, the inputs are in fact received and that the documents, prima facie, appear to be genuine. The fact that the assessee made payment by cheque was held to be a proof of his bona fides - Credit cannot be denied - AT Highlights Central Excise Thu, 03 Mar 2022 10:04:46 +0530 https://www.taxtmi.com/highlights?id=62242