Madras HC allows transitional ITC of Cenvat Credit Despite Late Return

Sowmiya Spinners (P) Limited Vs Deputy Commissioner of GST and Central Excise (Madras High Court) In a recent judgment, the Madras High Court set aside an order that had denied Sowmiya Spinners (P) Limited the benefit of transitioned Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime. The dispute centered on the company’s filing of excise returns. Sowmiya Spinners had transitioned ITC on December 22, 2017, without an accompanying excise return for July 2017. Following a notice from the authorities in December 2018, demanding reversal of the transitioned credit, the comp...