Input tax credit provisional acceptance: credited to electronic credit ledger and usable only for self-assessed output tax. Registered persons may claim eligible input tax credit by self-assessment in their return, and that amount is provisionally credited to the electronic credit ledger. The provisionally credited input tax credit may be utilised only to pay the self-assessed output tax declared in the same return, subject to prescribed conditions and restrictions.
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.
Input tax credit provisional acceptance: credited to electronic credit ledger and usable only for self-assessed output tax.
Registered persons may claim eligible input tax credit by self-assessment in their return, and that amount is provisionally credited to the electronic credit ledger. The provisionally credited input tax credit may be utilised only to pay the self-assessed output tax declared in the same return, subject to prescribed conditions and restrictions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
