Input tax credit verification mandated under new return framework; suppliers and recipients jointly liable where details mismatch. The Ordinance amends GST law to clarify supply classification, expand recipient liability under the reverse charge mechanism, and introduce section 43A prescribing a new return and input tax credit verification regime. Suppliers must furnish outward supply details on a common portal; recipients must verify or modify those details in their returns. Prescribed procedures may limit credit available for unmatched supplier details, and suppliers and recipients may be jointly liable for tax or wrongly availed credit where matching or return filing does not occur. Composition thresholds, registration, suspension, filing periodicity and credit utilisation order are also revised.
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Input tax credit verification mandated under new return framework; suppliers and recipients jointly liable where details mismatch.
The Ordinance amends GST law to clarify supply classification, expand recipient liability under the reverse charge mechanism, and introduce section 43A prescribing a new return and input tax credit verification regime. Suppliers must furnish outward supply details on a common portal; recipients must verify or modify those details in their returns. Prescribed procedures may limit credit available for unmatched supplier details, and suppliers and recipients may be jointly liable for tax or wrongly availed credit where matching or return filing does not occur. Composition thresholds, registration, suspension, filing periodicity and credit utilisation order are also revised.
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