P. I. Polymers Vs Commerical Tax Officer
Date: July 23, 2026
Subject Matter
VAT: Input Tax Credit Not Allowable on DEPB Licenses Not Specified in First Schedule
Summary
The High Court dismissed the appeals, upholding the re-assessment orders that denied Input Tax Credit (ITC) on the purchase of Duty Entitlement Passbook (DEPB) licenses. The Court affirmed that while DEPB licenses constitute 'goods', they are not spe…
FULL TEXT OF THE JUDGMENT/ORDER OF MADRAS HIGH COURT The genesis of these two intra-court appeals filed by the Trader – Assessee arise out of the re-assessment orders dated 13.11.2015 passed by the Commercial Tax Officer / Respondent in respect of the assessment years 2012-2013 and 2013-2014. 2. The assessee had purchased Duty Entitlement Passbook ( DEPB) and imported plastic granules utilising D…