Pavan Jain S (Chartered Accountant) (1575 Points)
10 July 2009If the seller has failed to remit the VAT and is not traceable, Can the department deny the input vat credit to the purchaser especially when the purchaser had bonafide belief that the seller has discharged the liability. quote specific numbers
Refer to any case law, if any.
sandhya
(ca)
(92 Points)
Replied 15 July 2009
yes u can take input credit. it is not ur problem to ensure that seller has discharged his liability
Pavan Jain S
(Chartered Accountant)
(1575 Points)
Replied 17 July 2009
The department has served a notice u/s 70 levying three times penalty. Do you have any reference to any case law or specific provision of the Act. kindly quote
CAclubindia
