Delhi HC admits writ challenging Rule 117 which imposes restriction on availing transitional credit

Delhi HC admits writ challenging validity of Rule 117 of CGST Rules imposing a time limit on filing of TRAN-1 form to enable carry forward of CENVAT credit to the GST regime; Petitioner contended that CENVAT credit represents a vested right on which no fetters could be placed by way of delegated legislation; Petitioner further argued that non-filing or delay in filing of TRAN-1 form is a procedural lapse for which substantive rights of ITC cannot be denied; While noting ...