SC allows use of input tax credit for mandatory pre-deposit under GST

In a landmark ruling with wide-reaching implications for businesses across India, the Supreme Court on Monday, May 19, upheld the Gujarat High Court’s decision allowing the use of the Electronic Credit Ledger (ECL) which contains accumulated input tax credit (ITC) to make the mandatory pre-deposit required for filing an appeal under the Goods and Services Tax (GST) law. The decision comes at a tim…