West Bengal VAT Act, 2003 not allow carry-forward ITC to be adjusted retrospectively

Crescent Manufacturing Pvt. Ltd. Vs Fast Track Revisional Authority Bench I And Ors. (Calcutta High Court) The Calcutta High Court dismissed the writ petition filed by Crescent Manufacturing Pvt. Ltd., challenging the West Bengal Taxation Tribunal’s order dated 05.08.2024. The dispute stemmed from the non-renewal of the company’s eligibility certificate, which resulted in a demand for output tax for the period 04.03.2015 to 31.03.2015. The petitioner sought to adjust the tax liability using accumulated input tax credit (ITC) but was denied this relief by the Deputy Commissioner of Commerci...