Valid return status requires full payment of self-assessed tax, and only valid returns enable input tax credit confirmation. A return filed without full payment of self-assessed tax is not a valid return under section 2(117); only a valid return is used to allow input tax credit, so the recipient's ITC will not be confirmed until the supplier has paid the self-assessed tax and both supplier and recipient have filed their returns.
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Valid return status requires full payment of self-assessed tax, and only valid returns enable input tax credit confirmation.
A return filed without full payment of self-assessed tax is not a valid return under section 2(117); only a valid return is used to allow input tax credit, so the recipient's ITC will not be confirmed until the supplier has paid the self-assessed tax and both supplier and recipient have filed their returns.
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