Delhi High Court allows input tax credit on DEPB scrips

CST & VAT : Delhi VAT : Assessee purchased scrips of Duty Entitlement Passbook Scheme from registered dealers after paying VAT and used it to pay import duty on goods. Since the DEPB scrip has contributed to the price of imported commodity therefore it constituted use of DEPB scrips for purposes of sale of the imported commodity; thus assessee was entitled to input tax credit on purchase of such DEPB scrips