Reversal of Input Tax Credit Applies to Exempt De-Oiled Cake as Goods u/s 17 of KVAT Act.

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....Reversal of Input tax credit on exempted by-product - de-oiled cake fits into the definition of “goods” and this commodity is exempt from payment - it is the sale of goods which triggers the provisions of Section 17 of KVAT Act. Whether it is by-product or manufactured product is immaterial and irrelevant. - SC....