INPUT TAX CREDIT AND THE PERCEIVED DEPENDENCE ON THE SUPPLIER TO AVAIL THE BENEFIT OF SUCH CREDIT IN TERMS OF SECTION 16(2)(c) OF THE CGST ACT

INPUT TAX CREDIT AND THE PERCEIVED DEPENDENCE ON THE SUPPLIER TO AVAIL THE BENEFIT OF SUCH CREDIT IN TERMS OF SECTION 16(2)(c) OF THE CGST ACT https://www.taxtmi.com/article/detailed?id=11802 The article analyses the legal effect of conditioning input tax credit on the supplier's payment of tax, highlighting a High Court ruling that denied ITC where the supplier failed to remit tax and treating ITC as a statutory benefit contingent on conjunctive conditions. It contrasts that ruling with other decisions protecting bona fide buyers, invokes the doctrine that law does not require the impossible, notes challenges to the supplier remittance condition, and recommends contractual and compliance measures to safeguard ITC entitlement. en-us Fri, 01 Sep 2023 12:03:17 +0530 Fri, 01 Sep 2023 12:03:17 +0530 TaxTMI RSS Generator INPUT TAX CREDIT AND THE PERCEIVED DEPENDENCE ON THE SUPPLIER TO AVAIL THE BENEFIT OF SUCH CREDIT IN TERMS OF SECTION 16(2)(c) OF THE CGST ACT https://www.taxtmi.com/article/detailed?id=11802 The article analyses the legal effect of conditioning input tax credit on the supplier's payment of tax, highlighting a High Court ruling that denied ITC where the supplier failed to remit tax and treating ITC as a statutory benefit contingent on conjunctive conditions. It contrasts that ruling with other decisions protecting bona fide buyers, invokes the doctrine that law does not require the impossible, notes challenges to the supplier remittance condition, and recommends contractual and compliance measures to safeguard ITC entitlement. Articles Goods and Services Tax - GST Fri, 01 Sep 2023 12:03:17 +0530 https://www.taxtmi.com/article/detailed?id=11802