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Availability of ITC in respect of duty/tax paid after July 2017 for past transactions under CEA, 1944/FA, 1994/CA, 1962


Disallowable credit under old Law continues to be Disallowable under new Law

The recoveries under 142(7)(a),(8)(a)and (9)(a) all seem to be recoveries upon which such amounts are inadmissible under old Law and therefore continue to remain inadmissible under the new Law. Upon conclusion of old proceedings, even their voluntary payment has no effect on them to change their inadmissible nature of their credit and hence the present dispensation would appear just, on a deeper scrutiny, one thinks. K.Srinivasan(IRS)

srinivasan krishnamachari 28/07/2020

 

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