https://www.taxtmi.com/highlights?id=67892 Reversal of Input tax Credit - on purchase of R.E.P. license - the assessee-dealer had purchased import license from another person after paying the taxes as was applicable and the licence, which was in a intangible form was converted into a tangible form by the assessee importing chemical from outside the country. - The findings recorded by the Tribunal to the extent that I.T.C. can only be availed in case the assessee-dealer selling the licence itself and not importing the goods using the said import license and reselling the same in the market is not correct - HC en-us Wed, 25 Jan 2023 08:29:41 +0530 Wed, 25 Jan 2023 08:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67892 Reversal of Input tax Credit - on purchase of R.E.P. license - the assessee-dealer had purchased import license from another person after paying the taxes as was applicable and the licence, which was in a intangible form was converted into a tangible form by the assessee importing chemical from outside the country. - The findings recorded by the Tribunal to the extent that I.T.C. can only be availed in case the assessee-dealer selling the licence itself and not importing the goods using the said import license and reselling the same in the market is not correct - HC Highlights VAT and Sales Tax Wed, 25 Jan 2023 08:29:41 +0530 https://www.taxtmi.com/highlights?id=67892