Tax department cannot block import export code (IEC): Bombay High Court - THEMARKETTRENDZ

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Tuesday, 10 November 2020

Tax department cannot block import export code (IEC): Bombay High Court

The court was hearing a matter where the indirect tax department after investigations found that an exporter was using fake input tax credit to set off GST liabilities. Input tax credits are essentially part of the tax paid by a company that can be used to set off future tax liability.

from GST-Small Biz-Economic Times
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