Jharkhand High Court Rules No Retrospective ITC Forfeiture Due to Lack of Implementation Mechanism in JVAT Act Section 18(4.

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....Input Tax Credit (ITC) - Restriction of ITC to the extent of CST payable in case of interstate sale - Restriction of ITC in case of goods consumned or burned but not transferred into or existent in finished product - No retrospective effect could be given - In absence of machinery provision having been prescribed by the State of Jharkhand for giving effect to the proviso inserted in clause(ii) and (iii) of sub-section 4 of Section 18 of the JVAT Act, the said provisos were unworkable between the period 23.09.2015 till 16.02.2017 and during the said period no assessment could be made and for the said period no forfeiture of ITC can take place - HC....