Input tax credit reversal and rule applicability are extended to taxpayers opting for the notification-based tax scheme. Input tax credit consequences are prescribed for a registered person opting to pay tax under the notification. Such person must debit the electronic credit ledger or electronic cash ledger for credit attributable to inputs, semi-finished or finished goods, and capital goods in stock, and any remaining input tax credit in the electronic credit ledger lapses. The Uttar Pradesh GST Rules, 2017 apply mutatis mutandis to persons paying tax under this notification.
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 reversal and rule applicability are extended to taxpayers opting for the notification-based tax scheme.
Input tax credit consequences are prescribed for a registered person opting to pay tax under the notification. Such person must debit the electronic credit ledger or electronic cash ledger for credit attributable to inputs, semi-finished or finished goods, and capital goods in stock, and any remaining input tax credit in the electronic credit ledger lapses. The Uttar Pradesh GST Rules, 2017 apply mutatis mutandis to persons paying tax under this notification.
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