Input tax credit verification via supplier-filed outward-supply details limits and joint liability where recipient avails credit without return. The Act revises definitions and schedules to broaden coverage and clarity, modifies supply classification and reverse charge rules, adjusts composition and registration requirements including separate SEZ registration, enables suspension during cancellation proceedings, and clarifies credit/debit note issuance. It reorganizes return filing and rectification timelines, inserts section 43A establishing portal-based outward-supply reporting, recipient verification and limits on ITC availing with joint-and-several liability where returns remain unfurnished, expands practitioner authorisations, and prescribes order and conditions for utilization of input tax credit.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit verification via supplier-filed outward-supply details limits and joint liability where recipient avails credit without return.
The Act revises definitions and schedules to broaden coverage and clarity, modifies supply classification and reverse charge rules, adjusts composition and registration requirements including separate SEZ registration, enables suspension during cancellation proceedings, and clarifies credit/debit note issuance. It reorganizes return filing and rectification timelines, inserts section 43A establishing portal-based outward-supply reporting, recipient verification and limits on ITC availing with joint-and-several liability where returns remain unfurnished, expands practitioner authorisations, and prescribes order and conditions for utilization of input tax credit.
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