In the case of Brand Equity Treaties Limited vs. Union of India (Delhi High Court), the Hon’ble court has allowed carry forward of ITC in TRAN-1 up to 30.06.2020. However, the retrospective amendment in Section 140 of CGST Act (and SGST Acts), 2017 W.E.F. 01.07.2017 by notifying Section 128 of Finance Act, 2020 which inter alia added “within such time” has again raised questions as to whether taxpayers can still take the benefit of the judgment.

For more insight, please read the attached document: Carry Forward of ITC in Trans 1 by 30-6-20

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This document has been prepared in summary form by Dewan P. N. Chopra & Co. based on the High Court Judgement as indicated above. For further details, please refer the said judgment as per link attached above. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of such information. Reader should conduct and rely upon their own examination, investigation and analysis and are advised to seek their own professional advice. The information and data contained herein is not a substitute for the recipient’s independent evaluation and analysis. This document is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies on it.