Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax credit - Having not received the tax at the first instance of sale, there is no obligation on the State to grant input tax credit.
Denial of input tax credit (ITC) - Supplier failed to deposit the tax - The State is deprived of the tax to that extent and hence there is no question of input tax credit - Having not received the tax at the first instance of sale, there is no obligation on the State to grant input tax credit.
Note: It is a system-generated summary and is for quick reference only.
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