Unfortunate retrospective amendment in GST laws when there was no scope of doubt or ambiguity in provisions. More so when it is to nullify law as interpreted and finally declared by honorable Supreme Court - whether amendment to substitute word "or" with "and" in between word 'plant' and, 'machinery' will serve purpose of such amendment?

Unfortunate retrospective amendment in GST laws when there was no scope of doubt or ambiguity in provisions. More so when it is to nullify law as interpreted and finally declared by honorable Supreme Court - whether amendment to substitute word "or" with "and" in between word 'plant' and, 'machinery' will serve purpose of such amendment? https://www.taxtmi.com/article/detailed?id=13497 A proposed retrospective amendment would replace the phrase "plant or machinery" with "plant and machinery" in the provision denying input tax credit for goods or services used in construction of immovable property and inserts an Explanation deeming that construction to have applied from the Act's commencement, notwithstanding any contrary judicial decision. The author argues there was no actual ambiguity, that statutory terms lack definitions so ordinary and judicial meanings have governed, and that the amendment would negate prior judicial interpretations and risk denying previously availed input tax credit, undermining legal certainty. en-us Fri, 07 Feb 2025 16:56:40 +0530 Fri, 11 Apr 2025 18:32:44 +0530 TaxTMI RSS Generator Unfortunate retrospective amendment in GST laws when there was no scope of doubt or ambiguity in provisions. More so when it is to nullify law as interpreted and finally declared by honorable Supreme Court - whether amendment to substitute word "or" with "and" in between word 'plant' and, 'machinery' will serve purpose of such amendment? https://www.taxtmi.com/article/detailed?id=13497 A proposed retrospective amendment would replace the phrase "plant or machinery" with "plant and machinery" in the provision denying input tax credit for goods or services used in construction of immovable property and inserts an Explanation deeming that construction to have applied from the Act's commencement, notwithstanding any contrary judicial decision. The author argues there was no actual ambiguity, that statutory terms lack definitions so ordinary and judicial meanings have governed, and that the amendment would negate prior judicial interpretations and risk denying previously availed input tax credit, undermining legal certainty. Articles Goods and Services Tax - GST Fri, 07 Feb 2025 16:56:40 +0530 https://www.taxtmi.com/article/detailed?id=13497