Gujarat HC Strikes down GST Provision denying Cenvat Credit on Stock of Goods purchased prior to One Year to First Dealers

In a landmark ruling, a two-judge bench of the Gujarat High Court has struck down the provision relating to Transitional Credit providing for 1 year time limit of purchases for claiming excise duty credit inter alia in the cases of first stage dealers and importers struck down as unconstitutional by Hon. Justices Akil Khureshi and Biren Vaishnav of the Gujarat High Court were allowi…