18 February 2016
Rule 16 R-16A sold goods To B [ 1,00,000 10000(ED) ] on 10th April . On 6th may A Paid ED to govt. . B returned the goods on 12th may , A accepted goods as THEY WERE IN PERFECT CONDITION to be sold to some other party at same price , and gave only ₹1,00,000 to B ,stating I won't give ED back to you . Will A still have the right to book the credits in his books , and B liable to remove the credits from his books.? Although it will be UNJUST
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