Input tax credit self-assessment governs credit availment, reversal with interest, and re-availment when supplier tax is paid. Input tax credit under the Central Goods and Services Tax regime is available on a self-assessed basis in the registered person's return, subject to prescribed conditions and restrictions, and is credited to the electronic credit ledger. Credit must be reversed with applicable interest where the supplier has not paid the tax payable on the relevant supplies, but the reversed credit may be re-availed once the supplier pays the tax, in the prescribed manner.
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 self-assessment governs credit availment, reversal with interest, and re-availment when supplier tax is paid.
Input tax credit under the Central Goods and Services Tax regime is available on a self-assessed basis in the registered person's return, subject to prescribed conditions and restrictions, and is credited to the electronic credit ledger. Credit must be reversed with applicable interest where the supplier has not paid the tax payable on the relevant supplies, but the reversed credit may be re-availed once the supplier pays the tax, in the prescribed manner.
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