https://www.taxtmi.com/caselaws?id=771243 Input tax credit under the Uttar Pradesh VAT regime was not retainable on goods that remained in closing stock because credit depended on fulfilment of statutory conditions, including purchase, valid invoices, and resale or other taxable use. Mere purchase without taxable turnover did not make the credit finally admissible. The shift to the Goods and Services Tax regime did not, by itself, preserve credit that had not crystallised under the earlier law, and authorities concerning discontinuance of business under different provisions were treated as inapposite. The revision was allowed and the input tax credit was set aside. en-us Fri, 09 May 2025 00:00:00 +0530 Fri, 06 Jun 2025 19:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771243 Input tax credit under the Uttar Pradesh VAT regime was not retainable on goods that remained in closing stock because credit depended on fulfilment of statutory conditions, including purchase, valid invoices, and resale or other taxable use. Mere purchase without taxable turnover did not make the credit finally admissible. The shift to the Goods and Services Tax regime did not, by itself, preserve credit that had not crystallised under the earlier law, and authorities concerning discontinuance of business under different provisions were treated as inapposite. The revision was allowed and the input tax credit was set aside. Case-Laws GST Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771243