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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

VAT - Delhi - 21/2015-16 - Dated:- 1-9-2015 - GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (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 serves .....

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he seller revises the matched transactions also either inadvertently or maliciously which causes a mismatch in ITC at buyer's end and leads to avoidable difficulties. 3. To mitigate the difficulties, it has now been decided that 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. In this way, buyer would not be burdened with unnecessary mismatches, caused due to revision of retur .....

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