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Matching, reversal and reclaim of input tax credit.

Section 42 - Mizoram SGST - RETURNS - Mizoram Goods and Services Tax Act, 2017 - Section 42 - 42. - (1) The details of every inward supply furnished by a registered person (hereafter in this section referred to as the recipient ) for a tax period sha .....

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rn for the same tax period or any preceding tax period; (b) with the integrated goods and services tax paid under section 3 of the Customs Tariff Act, 1975 (51 of 1975) in respect of goods imported by him; and (c) for duplication of claims of input t .....

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Tariff Act, 1975 (51 of 1975) in respect of goods imported by him shall be finally accepted and such acceptance shall be communicated, in such manner as may be prescribed, to the recipient. (3) Where the input tax credit claimed by a recipient in re .....

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y be prescribed. (4) The duplication of claims of input tax credit shall be communicated to the recipient in such manner as may be prescribed. (5) The amount in respect of which any discrepancy is communicated under sub-section (3) and which is not r .....

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h the discrepancy is communicated. (6) The amount claimed as input tax credit that is found to be in excess on account of duplication of claims shall be added to the output tax liability of the recipient in his return for the month in which the dupli .....

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ied in sub-section (9) of section 39. (8) A recipient in whose output tax liability any amount has been added under sub-section (5) or sub-section (6), shall be liable to pay interest at the rate specified under sub-section (1) of section 50 on the a .....

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