If 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.
yes u can take input credit. it is not ur problem to ensure that seller has discharged his liability
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
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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