ITC Reversal: Madras HC allows opportunity on payment of 25% of disputed taxes

Tvl. Arumugasamy Alloy Metal Suppliers Vs Deputy State Tax Officer-2 (Madras High Court) The Madras High Court addressed a writ petition filed by Tvl. Arumugasamy Alloy Metal Suppliers against the Deputy State Tax Officer-2, concerning an assessment order for the financial year 2018-19. The petitioner, a metal trader registered under the Goods and Services Tax (GST) Act, challenged an order that reversed input tax credit availed from invoices issued by Jaya Trading Company. This reversal stemmed from an investigation by the CGST and Central Excise Department, which alleged that Jaya Trading Co...