Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

as the basic document for availing input tax credit. The dealer claims ITC while filing return of a tax period. Sale and purchase details are filed along-with return in the form of Annexure 2A & 2B. In the present system the sale and purchase de .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

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 transacti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n 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 transaction. In such cases it is further decided that the buyer can appro .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ecking and verifying the transactions, would take a decision for allowing both the dealers to revise the respective entries. The entries so reopened can be revised by both seller and buyer resulting in revision of the return within the period prescri .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version