https://www.taxtmi.com/caselaws?id=436571 Reversal of input tax credit on supplies to Special Economic Zone units was found unsustainable where the assessment treated such sales as exempt and relied on an audit objection not supported by the records, including Form WW. The governing position is that zero-rated sales under Section 18 of the Tamil Nadu Value Added Tax Act, 2006 are distinct from exempt sales, input tax credit remains admissible for such supplies, and Section 19(5) does not apply to zero-rated sales. On that basis, the assessment orders could not stand as framed and were remanded for fresh consideration by the assessing authority. en-us Thu, 30 Mar 2023 00:00:00 +0530 Mon, 17 Apr 2023 08:04:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436571 Reversal of input tax credit on supplies to Special Economic Zone units was found unsustainable where the assessment treated such sales as exempt and relied on an audit objection not supported by the records, including Form WW. The governing position is that zero-rated sales under Section 18 of the Tamil Nadu Value Added Tax Act, 2006 are distinct from exempt sales, input tax credit remains admissible for such supplies, and Section 19(5) does not apply to zero-rated sales. On that basis, the assessment orders could not stand as framed and were remanded for fresh consideration by the assessing authority. Case-Laws VAT and Sales Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436571