https://www.taxtmi.com/caselaws?id=753777 Input tax credit is repayable where goods on which input tax has been deducted are not used in the course of business or are lost or destroyed, and Section 19(1) of the Karnataka Value Added Tax Act, 2003 was treated as clear and unqualified. Losses from spillage, handling, transportation, ground loss and moisture loss were held to fall within that rule to the extent the goods were not used in business, so proportionate reversal of input tax credit was upheld. Authorities' reliance on the statutory language was sustained, and the decisions cited by the taxpayer were distinguished on their facts and context. en-us Fri, 19 Apr 2024 00:00:00 +0530 Mon, 10 Jun 2024 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753777 Input tax credit is repayable where goods on which input tax has been deducted are not used in the course of business or are lost or destroyed, and Section 19(1) of the Karnataka Value Added Tax Act, 2003 was treated as clear and unqualified. Losses from spillage, handling, transportation, ground loss and moisture loss were held to fall within that rule to the extent the goods were not used in business, so proportionate reversal of input tax credit was upheld. Authorities' reliance on the statutory language was sustained, and the decisions cited by the taxpayer were distinguished on their facts and context. Case-Laws VAT / Sales Tax Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753777