Input Tax Credit adjustment: supplier must pay greater of adjusted credit or tax on transaction value for supplied capital goods. When a registered taxable person supplies capital goods on which input tax credit has been taken, the supplier must pay an amount equal to the input tax ... Summary
Input Tax Credit adjustment: supplier must pay greater of adjusted credit or tax on transaction value for supplied capital goods.
When a registered taxable person supplies capital goods on which input tax credit has been taken, the supplier must pay an amount equal to the input tax credit claimed on those goods reduced by specified percentage points or the tax on the transaction value of the goods, whichever is higher.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
