GsT Knowledge

*GST* 𝗕𝗶𝗴 𝗡𝗲𝘄𝘀 𝗖𝗼𝗺𝗶𝗻𝗴 𝗜𝗻: 𝗚𝗿𝗲𝗮𝘁 𝗡𝗲𝘄𝘀 𝗙𝗼𝗿 𝗛𝗼𝗻𝗲𝘀𝘁 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀 The Supreme Court has 𝗱𝗶𝘀𝗺𝗶𝘀𝘀𝗲𝗱 𝘁𝗵𝗲 𝗱𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁'𝘀 𝗦𝗟𝗣 𝗮𝗴𝗮𝗶𝗻𝘀𝘁 𝘁𝗵𝗲 𝗖𝗮𝗹𝗰𝘂𝘁𝘁𝗮 𝗛𝗖 𝗷𝘂𝗱𝗴𝗺𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗮𝘀𝗲 𝗼𝗳 𝗦𝘂𝗻𝗰𝗿𝗮𝗳𝘁 𝗘𝗻𝗲𝗿𝗴𝘆 𝗣𝘃𝘁. 𝗟𝘁𝗱., wherein it was held that the *purchasing dealer's ITC cannot be denied by the department on the ground that that supplying dealer has not remitted the tax so collected unless there is an exceptional case like the supplier going missing or any situation wherein it becomes impossible for the department to collect tax from such a supplier.* 𝘜𝘯𝘵𝘪𝘭 𝘵𝘩𝘦𝘳𝘦 𝘪𝘴 𝘢 𝘳𝘦𝘮𝘰𝘵𝘦 𝘤𝘩𝘢𝘯𝘤𝘦 𝘰𝘧 𝘳𝘦𝘤𝘰𝘷𝘦𝘳𝘪𝘯𝘨 𝘵𝘩𝘦 𝘵𝘢𝘹 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘴𝘶𝘱𝘱𝘭𝘺𝘪𝘯𝘨 𝘥𝘦𝘢𝘭𝘦𝘳, 𝘵𝘩𝘦 𝘥𝘦𝘱𝘢𝘳𝘵𝘮𝘦𝘯𝘵 𝘴𝘩𝘢𝘭𝘭 𝘯𝘰𝘵 𝘥𝘦𝘯𝘺 𝘐𝘛𝘊 𝘵𝘰 𝘵𝘩𝘦 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘪𝘯𝘨 𝘥𝘦𝘢𝘭𝘦𝘳. 𝘈𝘨𝘢𝘪𝘯𝘴𝘵 𝘵𝘩𝘪𝘴 𝘰𝘳𝘥𝘦𝘳, 𝘵𝘩𝘦 𝘋𝘦𝘱𝘢𝘳𝘵𝘮𝘦𝘯𝘵 𝘧𝘪𝘭𝘦𝘥 𝘢𝘯 𝘚𝘓𝘗 𝘪𝘯 𝘵𝘩𝘦 𝘚𝘶𝘱𝘳𝘦𝘮𝘦 𝘊𝘰𝘶𝘳𝘵 (𝘋𝘪𝘢𝘳𝘺 𝘕𝘰. 44241/2023). It is being reported that the SLP has been dismissed and the Calcutta High Court judgment has been upheld. This comes as a massive victory for honest taxpayers. The order copy of the judgment is awaited. (𝗦𝗼𝘂𝗿𝗰𝗲: 𝗧𝗮𝘅 𝗦𝘂𝘁𝗿𝗮)