Adjustment to tax credit: purchasers must amend input tax credit when credit notes, returns, change of use, export, or resale occur. Adjustment to tax credit requires registered purchasers to modify input tax credit when credit or debit notes are issued or goods are returned, compensating any shortfall or excess in the tax period in which the note is issued or goods are returned. Changes in the use or destination of purchased goods, incorporation into a building, export of goods, or resale at a lower price likewise require proportional reduction or increase of the claimed tax credit in the period when such events occur, subject to prescribed conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Adjustment to tax credit: purchasers must amend input tax credit when credit notes, returns, change of use, export, or resale occur.
Adjustment to tax credit requires registered purchasers to modify input tax credit when credit or debit notes are issued or goods are returned, compensating any shortfall or excess in the tax period in which the note is issued or goods are returned. Changes in the use or destination of purchased goods, incorporation into a building, export of goods, or resale at a lower price likewise require proportional reduction or increase of the claimed tax credit in the period when such events occur, subject to prescribed conditions.
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