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Transitional Credit on Trial: Is Section 140(3)(iv) Constitutionally Sound?

The enactment of the Goods and Services Tax (GST) in India on 1 July 2017 marked a transformational shift from multiple indirect tax levies to a unified tax regime. A critical aspect of this shift involved transitional provisions designed to protect and carry forward legitimate Input Tax Credit (ITC) accumulated under the pre-GST regime (including CENVAT) into the GST regime. Among these, Section 140 of the Central Goods and Services Tax Act, 2017 (CGST Act)........ Read More