https://www.taxtmi.com/caselaws?id=770298 A substantive VAT amendment withdrawing input tax credit on coolers and refrigerators for soft drink manufacturers was treated as prospective, because an accrued credit entitlement cannot be taken away retrospectively unless the legislative intention is clear. The court also examined the claim for broken glass bottles and held that credit was not established on the stock position proved; the FIFO theory was not accepted on the facts. The result was partial relief: input tax credit remained admissible for coolers and refrigerators, while the broken-bottle claim failed. en-us Wed, 07 May 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770298 A substantive VAT amendment withdrawing input tax credit on coolers and refrigerators for soft drink manufacturers was treated as prospective, because an accrued credit entitlement cannot be taken away retrospectively unless the legislative intention is clear. The court also examined the claim for broken glass bottles and held that credit was not established on the stock position proved; the FIFO theory was not accepted on the facts. The result was partial relief: input tax credit remained admissible for coolers and refrigerators, while the broken-bottle claim failed. Case-Laws VAT / Sales Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770298