Input Tax Credit

[Sanjay Sharma]

Dear Experts,

Can we calim the Input Tax Credit of UPVAT on supplimentary Invoice in case of rate revision retrospectively, if there is any rule, notification pls. mention.

Regards. 

AI Summary

Claiming ITC on Supplementary Invoice Possible with Correct Format and Returns Under UPVAT Rules A user inquired about claiming Input Tax Credit (ITC) on a supplementary invoice due to retrospective rate revision under UPVAT. An expert responded, referring to tax rules for determining taxable turnover and deductions applicable under UPVAT. The user further clarified their situation, comparing it to CENVAT credit provisions, and sought advice on UPVAT rules. The expert advised that if the supplementary invoice is issued in the tax invoice format and incorporated in returns, ITC could be availed.