UNION OF INDIA vs VKC FOOTSTEPS INDIA PVT. LTD.

The Supreme Court addressed the interpretation of Section 54(3) of the Goods and Services Tax Act concerning the distinction between goods and services. The court emphasized the need for clarity in tax legislation and ruled in favor of VKC Footsteps India Pvt Ltd, allowing for the input tax credit on the basis of the nature of the transactions involved. The judgment underscores the importance of precise statutory language in tax law.