Input tax credit verification and supplier portal reporting reshape credit entitlement and joint liability under amended GST rules. The Act amends the Jharkhand GST law to revise definitions and supply classification, tighten registration and suspension mechanisms, adjust composition scheme conditions, and overhaul procedures for returns, invoicing and input tax credit. It inserts section 43A requiring supplier filing of outward-supply details on a common portal and recipient verification for availing input tax credit, permits limited credit on non-filed supplier details subject to a prescribed cap, and makes supplier and recipient jointly liable for tax or wrongly availed credit where details are furnished but returns remain unfiled, with prescribed recovery safeguards.
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Input tax credit verification and supplier portal reporting reshape credit entitlement and joint liability under amended GST rules.
The Act amends the Jharkhand GST law to revise definitions and supply classification, tighten registration and suspension mechanisms, adjust composition scheme conditions, and overhaul procedures for returns, invoicing and input tax credit. It inserts section 43A requiring supplier filing of outward-supply details on a common portal and recipient verification for availing input tax credit, permits limited credit on non-filed supplier details subject to a prescribed cap, and makes supplier and recipient jointly liable for tax or wrongly availed credit where details are furnished but returns remain unfiled, with prescribed recovery safeguards.
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