https://www.taxtmi.com/caselaws?id=450491 The Bombay HC addressed petitioners' challenge regarding transition of input tax credit under Section 140(7) of CGST Act. Petitioners argued their legitimate pre-GST input tax credit was being permanently lost due to defective electronic mechanisms preventing transfer to Electronic Credit Ledger, despite statutory entitlement. The HC observed that legitimately available input tax credit cannot be permanently lost merely due to inadequate GST procedural mechanisms for ECL transfer. The court recommended GST Council examine these transitional credit issues and their impact under Section 140(7). Proceedings were adjourned to August 9, 2024 pending GST Council's examination to assist the court's final determination. en-us Thu, 29 Feb 2024 00:00:00 +0530 Mon, 28 Apr 2025 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450491 The Bombay HC addressed petitioners' challenge regarding transition of input tax credit under Section 140(7) of CGST Act. Petitioners argued their legitimate pre-GST input tax credit was being permanently lost due to defective electronic mechanisms preventing transfer to Electronic Credit Ledger, despite statutory entitlement. The HC observed that legitimately available input tax credit cannot be permanently lost merely due to inadequate GST procedural mechanisms for ECL transfer. The court recommended GST Council examine these transitional credit issues and their impact under Section 140(7). Proceedings were adjourned to August 9, 2024 pending GST Council's examination to assist the court's final determination. Case-Laws GST Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450491