Gujarat HC issues notice to Revenue over challenge to transitional credit disentitlement beyond 1 year

Gujarat HC issues notice to Revenue in writ petition challenging the condition contained in Section 140(3)(iv) of CGST Act; By virtue of said provision, CENVAT credit could be availed in respect of input stock purchased not earlier than 1 year immediately preceding appointed day; According to the petitioners, they have sizeable stock of goods purchased prior to said period and on which, no credit would be available in light of said condition : Gujarat HC...