Shanti Prime Publication Pvt. Ltd.
Input Tax Credit — The petitioner had paid VAT under the pre-GST regime. Input tax credit of Rs.8.69 crores was claimed under the post GST regime for period between 1st July, 2017 to 28th February, 2018. Rs.7.16 crores was paid in cash in August, 2017 and Rs.5.39 crores was paid through input tax credit. No tax was paid thereafter and the last instalment was accounted for making adjustment against input tax credit. Thus, total amount paid in cash or input tax credit was Rs.12.56 crores. The respondents stated that the total amount collected from VAT/buyers under the GST regime is Rs.18.37 crores. The petitioner offered to pay an amount of Rs.5,11,60,450/- to resolve the issue amicably with the customers. On the deposit being made of the said amount, the same would be converted into an interest bearing FDR for a period of nine months. List on 19.02.2019. — Pyramid Infratech Private Limited Vs. Union of India And Ors.  06 TAXLOK.COM 085 (Delhi)