Section 11(7A) GVAT Act: ITC Denied if Claimed Credit Exceeds Tax Paid; Appeal Remanded Without Pre-Deposit.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Denial of Input Tax Credit (ITC) - Section 11(7A) of the GVAT Act envisages disallowance of tax credit in excess of the amount of tax paid in respect of the same goods - to disallow tax credit on any purchase, it has to be established that the tax has not been paid by the vendor - remanded to hear appeal without pre-deposit....