ITC Reversal due to supplier default: Madras HC Allows Appeal With 50% Deposit

Advertisement Nandanee Steel Corporation Vs Superintendent of GST and Central Excise (Madras High Court) The Madras High Court addressed a petition challenging Order-in-Original No. 15/2024-25 (GST), where the respondent confirmed a demand for reversal of input tax credit. The petitioner contended compliance with Section 16 of the GST Act, claiming entitlement to input tax credit; however, reversal was directed due to the supplier’s failure to make payment. The Court examined the impugned order, noting it was detailed, considered the petitioner’s submissions, and adhered to GST provisio...