HC : Right to CENVAT credit not "absolute"; Transition conditions, including Sec. 140(3)(iv), not unconstitutional

Bombay HC dismisses writ petitions filed by first stage dealers & manufacturer depots challenging constitutional validity of Section 140(3)(iv) of CGST Act which restricts transitional credit of inputs to invoices or other documents issued not earlier than 12 months immediately preceding the appointed day; Rejects petitioners’ stand that right to avail CENVAT credit is accrued under the repealed Act viz. Central Excise Act and same cannot be debarred / disentitled by ne...