No ITC Denial Without Verifying Transaction Genuineness: HP HC

Valley Iron & Steel Co. Ltd. Vs State of H.P. & Ors. (Himachal Pradesh High Court) GST authorities to conduct a factual verification of the genuineness of transactions before denying ITC. It provides a pathway for taxpayers to substantiate their claims through documentation, ensuring that administrative actions remain compliant with the principles of natural justice. Overview The High Court of Himachal Pradesh recently decided a writ petition filed by M/s. Valley Iron & Steel Co. Ltd. challenging the blocking of Input Tax Credit (ITC) and the validity of certain provisions under th...