Protecting Bonafide Credit

In a landmark ruling, the Allahabad High Court in M/s Singhal Iron Traders v. Additional Commissioner reaffirmed a vital GST principle — ITC cannot be denied to genuine buyers merely because a supplier’s registration was later cancelled. A snapshot by J the App by JustIDT on the judgment that restores balance between compliance and fairness, reminding us that GST is meant to tax transactions, not trust.