Transitional credit u/s. 140 admissible on unutilized ITC availed on purchase tax: Madras HC

Sri Sasthaa Constructions Vs Assistant Commissioner (ST) (Madras High Court) Madras High Court held that valid ITC availed on purchase tax which remained unutilized is entitled for the transitional credit under section 140 of TNGST Act, 2017 Facts- The petitioner is a Works Contractor. The employer who had employed to the petitioner as a Works Contractor had deducted Tax Deducted at Source (TDS) amount u/s. 13 of the Tamil Nadu Value Added Tax Act, 2006 and this Tax Deducted at Source was transitioned under Section 140 of the TNGST Act, 2017, along with the “purchase tax” paid by the petit...