Set-off reversal: dealers must reverse improperly adjusted or carried-forward VAT set-off in the prescribed return period. The 2017 amendments require returns to be accompanied by a challan evidencing payment, impose a recomputation and reversal duty for dealers who claimed or carried forward set-off without claiming refund for the specified retrospective period, extend that corrective mechanism to the corresponding rule, disallow set-off on purchases corresponding to stock held immediately prior to GST transition in enumerated cancellation or transition scenarios, and revise Form 310 to require detailed disclosure of amounts assessed, admitted and disputed in appeals.
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.
Set-off reversal: dealers must reverse improperly adjusted or carried-forward VAT set-off in the prescribed return period.
The 2017 amendments require returns to be accompanied by a challan evidencing payment, impose a recomputation and reversal duty for dealers who claimed or carried forward set-off without claiming refund for the specified retrospective period, extend that corrective mechanism to the corresponding rule, disallow set-off on purchases corresponding to stock held immediately prior to GST transition in enumerated cancellation or transition scenarios, and revise Form 310 to require detailed disclosure of amounts assessed, admitted and disputed in appeals.
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