Delhi HC begins final
hearing on the question of constitutionality of Section 140(3)(iv) of CGST Act
which limits transitional credit on goods in stock, to a period of 1 year;
As per the petitioners, since credit is not allowed of stock prior to June 30,
2016, the conditions stipulated under said section r/w Rule 117(4)(a)(iv) of
CGST Rules are arbitrary, unreasonable and in violation of Articles 14 and
19(1)(g) of Constitution; Advocate Tarun Gulati explains to the Court how
assessees having valid documents are placed at a disadvantage vis-a-vis those
who do not have invoices and still get reduced credit on account of proviso to
Section 140(3); HC lists the matter for further hearing on May 1.
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