- Supreme Court allows use of input tax credit for mandatory pre-deposit under GST
- Decision upholds Gujarat High Court’s ruling on using Electronic Credit Ledger for pre-deposit
- Businesses have been seeking reforms in ITC usage under GST
- Case involved Revenue Department and Yasho Industries
- Supreme Court dismissed Revenue Department’s petition, affirming ITC can be used for pre-deposit
- Legal position now favors taxpayers, allowing ITC for pre-deposit payments
- Ruling serves as a precedent to prevent narrow administrative interpretations
- Experts believe ruling will impact pending cases involving major companies
- Judgement provides relief for taxpayers filing appeals under GST
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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