Input Tax Credit Restriction Cannot Be Applied Retroactively; Protects Dealers' Vested Rights from 2007 to 2010 Transactions.
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....Restriction on input tax credit - Such a provision cannot have retrospective effect, more so, when vested right had accrued in favour of these dealers in respect of purchases and sales made between January 01, 2007 to August 19, 2010. - SC....




TaxTMI
TaxTMI