ITC claim against supplier gone into liquidation was to be adjudicated subject to deposit of 10% of disputed taxes

Tvl.Sri Renga Steels Vs Assistant Commissioner (ST) (Madras High Court) Conclusion: Assessee was granted an opportunity to explain discrepancies in their GST returns, specifically related to excess claims of Input Tax Credit (ITC) from cancelled dealers, return defaulters, and tax non-payers as the supplier undergone liquidation subject to  deposit 10% of the disputed taxes as admitted by assessee and the respondent, within a period of four weeks from the date of receipt of a copy of this order. Held: Assessee was a dealer in Iron and Steel, had filed its returns and paid the necessary taxes...