Once a tax is demanded, benefit of ITC must be extended to taxpayer: Madras HC

Umashankar Alloys Private Limited Vs Assistant Commissioner of Central Tax (Madras High Court) In the case of Umashankar Alloys Private Limited Vs. Assistant Commissioner of Central Tax, the Madras High Court addressed the issue of denied Input Tax Credit (ITC) for the assessment years 2017-2018 and 2018-2019. The petitioner challenged the impugned Order-in-Original No. 02/2022 dated February 1, 2022, which pertained to delayed claims for ITC contrary to Section 16(4) of the Goods and Services Tax (GST) enactments. The petitioner’s counsel highlighted recent legislative changes through Claus...