https://www.taxtmi.com/caselaws?id=795957 Input tax credit for tax paid on purchasing Duty Entitlement Passbook licences is unavailable where the licences do not independently meet the statutory conditions for credit. Although a DEPB licence constitutes goods, credit is confined to purchases of taxable goods specified in the First Schedule and used for qualifying purposes. DEPB licences are distinct from the imported plastic granules acquired through their use and are not themselves specified in the First Schedule. The governing principle is that classification as goods under the general definition does not by itself establish input tax credit entitlement; the purchase must separately satisfy the specific statutory requirements for taxable goods and qualifying transactions. en-us Fri, 24 Jul 2026 00:00:00 +0530 Thu, 30 Jul 2026 08:52:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795957 Input tax credit for tax paid on purchasing Duty Entitlement Passbook licences is unavailable where the licences do not independently meet the statutory conditions for credit. Although a DEPB licence constitutes goods, credit is confined to purchases of taxable goods specified in the First Schedule and used for qualifying purposes. DEPB licences are distinct from the imported plastic granules acquired through their use and are not themselves specified in the First Schedule. The governing principle is that classification as goods under the general definition does not by itself establish input tax credit entitlement; the purchase must separately satisfy the specific statutory requirements for taxable goods and qualifying transactions. Case-Laws VAT / Sales Tax Fri, 24 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795957