https://www.taxtmi.com/caselaws?id=767854 Unutilised input tax credit under the Uttar Pradesh VAT regime could not be retained after GST commenced and the dealer's business stood discontinued by operation of law. The Court held that the VAT scheme made such credit conditional and required debit or reversal where closing stock remained on discontinuance, so the dealer had to comply with that statutory obligation. It also held that refund of excess input tax credit was unavailable because the refund provision applied only after the relevant assessment stage and only where the statutory preconditions for excess admissible credit were satisfied. The Tribunal's contrary view was set aside and the Revenue's position was upheld. en-us Mon, 24 Mar 2025 00:00:00 +0530 Thu, 27 Mar 2025 08:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767854 Unutilised input tax credit under the Uttar Pradesh VAT regime could not be retained after GST commenced and the dealer's business stood discontinued by operation of law. The Court held that the VAT scheme made such credit conditional and required debit or reversal where closing stock remained on discontinuance, so the dealer had to comply with that statutory obligation. It also held that refund of excess input tax credit was unavailable because the refund provision applied only after the relevant assessment stage and only where the statutory preconditions for excess admissible credit were satisfied. The Tribunal's contrary view was set aside and the Revenue's position was upheld. Case-Laws VAT / Sales Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767854