Input tax credit verification: suppliers must furnish outward details and recipients must reconcile returns, affecting ITC availability and liability. The Ordinance amends the State GST Act to refine definitions and supply treatment, expand reverse charge notifications, revise composition thresholds, and introduce a new statutory procedure (section 43A) requiring suppliers to furnish outward supply details on a common portal and recipients to verify or modify those details in returns; it prescribes procedures and limits for availing input tax credit where supplier details are absent, imposes joint liability for non filing, and empowers prescribed recovery and safeguard mechanisms.
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: suppliers must furnish outward details and recipients must reconcile returns, affecting ITC availability and liability.
The Ordinance amends the State GST Act to refine definitions and supply treatment, expand reverse charge notifications, revise composition thresholds, and introduce a new statutory procedure (section 43A) requiring suppliers to furnish outward supply details on a common portal and recipients to verify or modify those details in returns; it prescribes procedures and limits for availing input tax credit where supplier details are absent, imposes joint liability for non filing, and empowers prescribed recovery and safeguard mechanisms.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
