Input Tax Credit alowable Irrespective of Purchase Month: Karnataka HC

Mukand Limited Vs State of Karnataka (Karnataka High Court) In this case before the Karnataka High Court, the petitioner challenged the validity of Section 10(3) of the Karnataka Value Added Tax Act, 2003, seeking its interpretation in line with the object and scheme of the Act, along with a challenge to a reassessment order dated 31.10.2015 for the tax period April 2010 to March 2011. The petitioner also sought a direction for refund of the amount claimed in its returns. The Court noted that the issue was already settled in an earlier batch of writ petitions, where it was held that Section 10...