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SHIVSAKTHI MERCANTILE PRIVATE LIMITED vs. THE ASSISTANT COMMISSIONER (ST) , CHENNAI, THE BRANCH MANAGER, AXIS BANK, CHENNAI
(Madras High Court)

Hon'ble Judges:

KRISHNAN RAMASAMY
Pet. Counsel
P. Rajkumar
Res. Counsel
T.n.c. Kaushik

Petitioner / Applicant

SHIVSAKTHI MERCANTILE PRIVATE LIMITED
Respondent THE ASSISTANT COMMISSIONER (ST) , CHENNAI, THE BRANCH MANAGER, AXIS BANK, CHENNAI
Court Madras High Court
State

Tamilnadu

Date Oct 1, 2024
Order No.

W. P. No. 28835 of 2024 And W. M. P. Nos. 31442, 31444 & 31445 of 2024

Citation

2024(10) TAXREPLY 11548
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ORDER

ORDER This writ petition has been filed challenging the impugned order dated 26.03.2024 passed by the 1st respondent. 2. Mr.T.N.C.Kaushik, learned Additional Government Pleader, takes notice on behalf of the 1st respondent. By consent of the parties, the main writ petition is taken up for disposal at the admission stage itself. 3. The learned counsel for the petitioner would submit that as per the provisions of Rule 86B of the Tamil Nadu Goods and Services Tax Act, 2017 (hereinafter called as “TNGST Act”), if the turnover of a Company exceeds a sum of Rs. 50,00,000/-, the said Company shall avail 99% of the Input Tax Credit (ITC) available in their electronic credit ledger. On the other hand, since the petitioner is paying more than a sum of Rs. 1,00,000/- as income tax from the FYs 2019-2020 onwards, the aforesaid restrictions will not be applicable to the petitioner and hence, the petitioner had availed 100% of the ITC available in their electronic credit l....

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