VAT dealers were duty bound to reverse/debit ITC u/s 13(6) after business discontinuation by Law

Commissioner Vs Janki Industries Nai Basti (Allahabad High Court) Conclusion: Dealers registered under Value Added Tax Act (VAT Act), 2008 were duty bound to reverse or debit the input tax credit as prescribed under Section 13(6) of the VAT after the discontinuation of business by the operation of law. Tribunal had failed in its duty while allowing the appeal of the opposite party by overlooking the provision of section 13(6) of the VAT Act. Held: Revision was filed by the department addressing two substantial questions of law – whether the Commercial Tax Tribunal was justified in allowi...