ITC Unavailable for Exempt Closing Stock Under GST Transition: Allahabad HC

Commissioner Commercial Tax Vs Ravi Prakash Rahul Prakash (Allahabad High Court) Allahabad High Court has ruled that Goods and Services Tax (GST) input tax credit (ITC) cannot be claimed on closing stock originating from the Uttar Pradesh Value Added Tax (UPVAT) regime if the goods were not sold under UPVAT before the introduction of GST. This decision came in the case of Commissioner Commercial Tax Vs. Ravi Prakash Rahul Prakash, where the court overturned a Commercial Tax Tribunal order that had granted the benefit of ITC to the dealer. The core of the dispute revolved around the transitiona...