Input tax credit verification: recipients must validate supplier submitted outward supplies before availing ITC, with prescribed safeguards. The Ordinance amends definitions and supply classification to align activities with Schedule II, empowers notification of reverse charge liability on recipients for supplies from unregistered suppliers, adjusts composition levy eligibility and turnover ceilings, mandates separate registration for SEZ units, allows suspension of registration during cancellation proceedings, prescribes return filing frequency and formats, and inserts section 43A establishing a supplier-recipient ITC matching and verification regime with prescribed procedures, safeguards, caps and joint and several liability where supplier details are furnished but returns are not filed.
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 verification: recipients must validate supplier submitted outward supplies before availing ITC, with prescribed safeguards.
The Ordinance amends definitions and supply classification to align activities with Schedule II, empowers notification of reverse charge liability on recipients for supplies from unregistered suppliers, adjusts composition levy eligibility and turnover ceilings, mandates separate registration for SEZ units, allows suspension of registration during cancellation proceedings, prescribes return filing frequency and formats, and inserts section 43A establishing a supplier-recipient ITC matching and verification regime with prescribed procedures, safeguards, caps and joint and several liability where supplier details are furnished but returns are not filed.
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