Input Tax Credit - difficulties to buyer due to revision of return by the seller - matched transaction of a tax period would be hard coded meaning thereby that after the filling of return such transactions would be unaffected by revision of return

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... S (POLICY BRANCH) VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 NO. F.3(566)/policy/VAT/2015/640-46 Dated: 01/09/2015 CIRCULAR NO. 21 of 2015-16 Value Added Tax System of taxation of sale of goods envisages to deposit tax on value addition of the goods after availing set-off of the tax paid on earlier stage. It is a multipoint tax and tax invoice issued by the seller .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... meaning thereby that after the filling of return such transactions would be unaffected by revision of return. In this way, buyer would not be burdened with unnecessary mismatches, caused due to revision of return by selling dealers, in respect of already matched entries. 4. It may also happen in some rare cases that both buyer and seller might have committed a mistake in reporting the transact .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ded for information and necessary action to: 1. All Spl./Addl./Joint Commissioners, Department 'of Trade and Taxes, GNCT of Delhi, Vyapar Bhawan I.P. Estate, New Delhi-02. 2. Dy. Director (Policy), Department of Trade and Taxes, GNCT of Delhi, Vyapar Bhawan, I.P. Estate, New Delhi-02. 3. Joint Director (IT), Department of Trade and Taxes, GNCT of Delhi, Vyapar Bhawan, I.P. Estate, New .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X