The negative list of items on which Input tax credit (ITC) is not available, have been coded under Section 17(5) of the CGST Act. Section 17(5) deals with blocked credit in GST. It enlists various circumstances under which the Input Tax Credit shall not be allowed to the Recipient irrespective of provisions mentioned in Section 16(1) & 18(1) of CGST Act, 2017.
The true principle of promissory estoppel is where one party (Promisor) has by his words or conduct made to the other a clear and unequivocal promise which is intended to create legal relations or a legal relationship would arise in the future, knowing or intending that it would be acted upon by the other party (Promise) to whom the promise is made and it is in fact so acted upon by the other party, the promise would be binding on the party making it and he would not be entitled to go back upon it.
