TaxTMI 
TaxTMI 
2020 (5) TMI 495
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....0(10)(a) & (b) and Rule 11 of the TNVAT Rules, 2007. 3. The petitioner filed a refund claim on 09.11.2011 and requested the respondent to refund a sum of Rs. 46,03,026/- being accumulated Input Tax Credit for the Assessment Years from 2006-2007 upto 2009- 2010. 4. The petitioner thereafter filed Writ Petition before this Court in W.P.No.18839 of 2013, to consider its representation for refund of the accumulated credit which had by then purportedly increased to Rs. 1,06,72,081/-. The said Writ Petition was disposed by an order dated 05.08.2013. It directed the respondent to consider the representations of the petitioner and pass orders on merits in accordance with law. 5. The petitioner thereafter filed another representation dated 15.08.....
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....een clarified that closing Input Tax Credit of the Petitioner as on 30.06.2017 was Rs. 1,05,30,257/-. The petitioner has also transited the aforesaid credit under TNGST by filing Form GST TRAN-I and that no set off has been made by the petitioner. 9. It is stated that the petitioner is still in business and is having valid registration in GSTIN:33AALFM0921B1ZW under TNGST Act, 2017 and that it is regularly filing the returns under TNGST Act, 2017. 10. The question that arises for consideration is whether the petitioner was entitled to refund of Input Tax Credit in terms of Section 19(17) and 19(18) of the TNVAT Act, 2006 and whether the Department was justified in disallowing the refund of claim on the ground that the petitioner was still....
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....ount due" can be adjusted towards any tax arrears only. 16. An Assessing Authority was bound to serve a notice in Form P to the dealer if after such adjustment there was still excess of Input Tax Credit. Form P is the prescribed format for refund of excess Input Tax Credit to a dealer after such adjustment. 17. Thus, as per the Rules prescribed, excess of Input Tax Credit has to be refunded back to the dealer. There was no provision for carrying forward of such Input Tax Credit for adjustment of tax liability for the subsequent period. 18. Therefore, merely because the petitioner was a going concern by itself did not mean that the petitioner was not entitled to such refund of the excess of Input Tax Credit which the petitioner acc....