https://www.taxtmi.com/caselaws?id=444501 Retrospective amendment to the Jharkhand VAT input tax credit provision removed the earlier bar on credit for intrastate stock transfers, and a manufacturer using locally purchased goods as raw materials for goods intended for sale remained entitled to full credit. Denial of credit based on the unamended provision and the earlier Tata Steel decision could not stand once that decision had been set aside and the statutory embargo ceased to operate. The Act did not require the assessee to defer credit until final sale by the same unit where the goods were otherwise purchased from registered dealers and used in manufacturing for sale. en-us Mon, 09 Oct 2023 00:00:00 +0530 Wed, 18 Oct 2023 07:39:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444501 Retrospective amendment to the Jharkhand VAT input tax credit provision removed the earlier bar on credit for intrastate stock transfers, and a manufacturer using locally purchased goods as raw materials for goods intended for sale remained entitled to full credit. Denial of credit based on the unamended provision and the earlier Tata Steel decision could not stand once that decision had been set aside and the statutory embargo ceased to operate. The Act did not require the assessee to defer credit until final sale by the same unit where the goods were otherwise purchased from registered dealers and used in manufacturing for sale. Case-Laws VAT and Sales Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444501