TRIVENI NEEDLES PVT. LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) The present petition under Article 226 of the Constitution of India seeks the following reliefs:

(2.) At the outset, learned counsel for the petitioner submits that if the Court were to issue directions as sought in prayers (a) and (f), he would not press the remaining prayers.

(3.) The case of the petitioner as stated in the petition is that it is engaged in the business of purchase and sale of bearings and is registered under the Central Goods and Service Tax Act, 2017 (hereinafter referred as 'CGST' Act). As on 01.07.2017, at the time of introduction of the CGST Act, the petitioner had an opening stock of Rs. 65,78,788/- on which it was entitled to a CVD Duty credit of Rs. 7,96,345/- and VAT Input Tax Credit of Rs. 26,657/- totaling to Rs. 8,23,002/-. Petitioner was entitled to transition of CVD Duty credit of the abovenoted amount in terms of Section 140(3),(4) and (5) of the CGST Act.