No ITC to purchasing dealer in the absence of proof of genuine transactions and physical movement of goods

No ITC to purchasing dealer in the absence of proof of genuine transactions and physical movement of goods https://www.taxtmi.com/article/detailed?id=11322 Entitlement to Input Tax Credit requires the purchasing dealer to discharge the burden under Section 70 by proving genuineness of transactions and actual physical movement of goods through cogent material (seller identity and address, vehicle delivery details, freight payments, delivery acknowledgements, tax invoices and payment particulars); invoices or cheque payments alone and rule-based compliance are insufficient to establish ITC, and false documents attract statutory penalties. en-us Sat, 15 Apr 2023 10:16:00 +0530 Sat, 15 Apr 2023 10:16:00 +0530 TaxTMI RSS Generator No ITC to purchasing dealer in the absence of proof of genuine transactions and physical movement of goods https://www.taxtmi.com/article/detailed?id=11322 Entitlement to Input Tax Credit requires the purchasing dealer to discharge the burden under Section 70 by proving genuineness of transactions and actual physical movement of goods through cogent material (seller identity and address, vehicle delivery details, freight payments, delivery acknowledgements, tax invoices and payment particulars); invoices or cheque payments alone and rule-based compliance are insufficient to establish ITC, and false documents attract statutory penalties. Articles Value Added Tax - VAT and CST Sat, 15 Apr 2023 10:16:00 +0530 https://www.taxtmi.com/article/detailed?id=11322