One year restriction to claim transitional credit is unconstitutional: Gujarat HC

As per reports Hon. Gujarat High Court in the case of Filco Trade Centre Pvt ltd vs Union of India in Special Civil Application No 18433 of 2017 decided on 5th September 2018 held that Clause (iv) of Section 140(3) of the Central Goods and Services Tax Act, 2017 in transitional credit provisions providing for 1 year time limit of purchases for claiming excise duty credit inter alia in the cases of first stage dealers and importers is unconstitutional and needs to be stuck down. Hon’ble Gujarat Court held that duty paid on inputs is as good as tax paid and creates a vested right which can...