Input credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2014 if once the input credit is reversed and later on, in a case law high court opines that input credit can be taken in that case, will the assesse who reversed the input credit can take the credit for the same goods again?
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CA DEEPAK S K

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CA DEEPAK S K (Expert)
22 May 2014 Yes. The HC gives decisions on question of law, so once the decision is given that input credit can be taken then it will be construed that the particular provision was enacted with intention of giving credit on that particular activity.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2014 actually I want to know whether suo moto re credit of input tax credit under Karnataka vat or any other vat act is permissible ??is there any procedural requirement for availing the credit again??
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Avatar

Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2014 actually I want to know whether suo moto re credit of input tax credit under Karnataka vat or any other vat act is permissible ??is there any procedural requirement for availing the credit again??
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 May 2014 actually I want to know whether suo moto re credit of input tax credit under Karnataka vat or any other vat act is permissible ??is there any procedural requirement for availing the credit again??
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CA DEEPAK S K

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CA DEEPAK S K (Expert)
22 May 2014 Every state will have it's own procedure as per the relevant rules or notification, not really aware of such procedure.

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