ITC Transition not to be denied in case of Input Service Distributor
Last updated: 23 March 2024
Court :
Bombay High Court
Brief :
The Hon'ble Bombay High Court in the case of Siemens India Ltd. v. Union of India [Writ Petition No. 986 of 2019 dated February 09, 2024], relying upon sub-section (7) of Section 140 of the Central Goods and Services Tax Act, 2017 ("the CGST Act") adjourned the matter for further hearing and continued the interim stay granted in favour of Assessee being Input Service Distributor ("ISD") on the ground that, ITC which is legitimately available with the Assessee before the Appointed day, cannot be lost or lapsed, merely because of lack of effective procedural mechanism for ITC to be transferred to the Electronic Credit Ledger for utilization, thereby creating a situation of such ITC being permanently lost.
Citation :
Writ Petition No. 986 of 2019 dated February 09, 2024
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Bimal Jain
Published in GST
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