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May 24
Blocking ITC by Creating a Negative Credit in the Electronic Credit Ledger
The recent Telangana High Court ruling in Laxmi Fine Chem v. Assistant Commissioner reinforces that blocking input tax credit (ITC) by creating a negative balance in the electronic credit ledger is not permissible under Rule 86A of the CGST Rules, 2017. This decision highlights the importance of adhering to GST…
