Input Tax Credit reversal: rules pending, restoration to be considered; default assessments may be framed under section 32; refunds protected. Recent amendments require reversal of Input Tax Credit for inter-state sales against C Forms but Rules to implement this are pending; the department will seek Government consideration of a mechanism to restore credit when C Forms are not received. The returns-matching software showed no systemic mismatches; default assessments and penalties may be framed under the Act where discrepancies arise. Authorities are instructed not to reject or reduce refund claims without passing orders. Circular No. 5 is voluntary, quarterly return deadlines have been extended, CST deposit issues are under examination, and a committee will improve building facilities.
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 reversal: rules pending, restoration to be considered; default assessments may be framed under section 32; refunds protected.
Recent amendments require reversal of Input Tax Credit for inter-state sales against C Forms but Rules to implement this are pending; the department will seek Government consideration of a mechanism to restore credit when C Forms are not received. The returns-matching software showed no systemic mismatches; default assessments and penalties may be framed under the Act where discrepancies arise. Authorities are instructed not to reject or reduce refund claims without passing orders. Circular No. 5 is voluntary, quarterly return deadlines have been extended, CST deposit issues are under examination, and a committee will improve building facilities.
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