New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Matching reversal and reclaim of reduction in output tax liability

Section 29A - RETURNS - Goods and Services Tax - Section 29A - 29A. (1) The details of every credit note relating to outward supply furnished by a taxable person (hereinafter referred to in this section as the supplier ) for a tax period shall, in the manner and within the time prescribed, be matched - (a) with the corresponding reduction in the claim for input tax credit by the corresponding taxable person (hereinafter referred to in this section as the recipient ) in his valid return for the s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e claim for input tax credit or the corresponding credit note is not declared by the recipient in his valid returns, the discrepancy shall be communicated to both such persons in the manner as may be prescribed. (4) The duplication of claims for reduction in output tax liability shall be communicated to the supplier in the manner as may be prescribed. (5) The amount in respect of which any discrepancy is communicated under sub-section (3) and which is not rectified by the recipient in his valid .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

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

Go to Mobile Version