GST ITC Denied due to Delayed Claim: Madras HC directs to Re-do Assessment following recent Amendment

The Madras High Court has directed a re-assessment of GST input tax credits that were denied due to delayed claims. In a recent ruling, the court acknowledged that there have been amendments to the GST law, and these changes should be taken into account while reviewing the claims. The decision underscores the evolving nature of tax law and its impact on businesses. Taxpayers who have been denied credits due to delays may now see their claims re-assessed, providing them with an opportunity to recover their legitimate tax credits.