No provision in law for lapsing of ITC available on cut-off-date of 30.06.2017

Avatar Petro Chemicals Private Limited Vs Goods and Service Tax Council (Madras High Court)

There is no provision under the provisions of the respective GST enactments for lapsing of the input tax credit and the credit availed on capital goods under the respective enactments. These credits are indefeasible. They were meant for being used for discharging the tax liability under the provisions of the erstwhile Central Excise Act, 1944, and under the provisions of Chapter V of the Finance Act, 1994.

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