Input tax credit restriction limits credit to the supplier's rate, disallowing excess credit when input tax is higher. Amendment limits input tax credit where a supplier of input service in the same line of business charges state tax at a rate higher than the rate charged by the recipient: the recipient cannot claim credit in excess of the tax paid or payable at the recipient's charged rate; illustrated by a motor cab transport example. The amendment also makes textual substitutions and omits specified entries in the Scheme of Classification of Services. The notification is deemed effective from the earlier specified date.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit restriction limits credit to the supplier's rate, disallowing excess credit when input tax is higher.
Amendment limits input tax credit where a supplier of input service in the same line of business charges state tax at a rate higher than the rate charged by the recipient: the recipient cannot claim credit in excess of the tax paid or payable at the recipient's charged rate; illustrated by a motor cab transport example. The amendment also makes textual substitutions and omits specified entries in the Scheme of Classification of Services. The notification is deemed effective from the earlier specified date.
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