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of <h1>Calcutta High Court Remands ITC Case: Evaluate Transaction Genuineness After Supplier's Retrospective GST Cancellation.</h1> The petitioner was denied input tax credit (ITC) after purchasing goods from a supplier whose GST registration was retrospectively canceled. The authorities claimed the supplier was fake and the petitioner failed to verify the supplier's identity. The Calcutta High Court noted the petitioner's compliance with statutory obligations at the time of transaction and found no collusion. Citing a similar case, the court remanded the matter to the appellate authority for reconsideration. The authority must evaluate the genuineness of the transactions and, if found legitimate, grant the ITC benefit to the petitioner. The decision emphasizes the need for thorough document verification.
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