Transitional ITC of VAT allowable, despite non availment of option to claim its refund under VAT law

M/s. Magma Fincorp Limited Vs State of Telangana (Telangana High Court) It is not stated in the impugned order that Section 140 does not have any application to the case on hand. All that is stated in paragraph 2 of the impugned order is that it is only the amount available as ITC in the VAT DCB for the month of June 2017 that the petitioner is eligible for claiming it as transitional relief. But, this is not supported by the provisions of Sections 16 to 21 of the TGST Act, 2017 so as to make the case of the petitioner fall under the first contingency contemplated in the first proviso to sub-s...