Input credit recovery: extended lookback for wilful misstatement; permitted transfer of unutilised credit on plant relocation. Amendments restrict eligible intermediate products to those used within the factory and specified under rule 57A notifications; permit, subject to Collector's conditions, transfer of unutilised Form RG 23A credit on shifting a manufacturer's plant to another site of the same manufacturer; and recast input-credit recovery in rule 57-I to authorize the proper officer to serve a show-cause notice within a prescribed lookback period for credits taken by error or misconstruction, allow extended review where there is wilful misstatement, and require repayment or non utilisation of credit disallowed up to the amount specified in the notice.
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 credit recovery: extended lookback for wilful misstatement; permitted transfer of unutilised credit on plant relocation.
Amendments restrict eligible intermediate products to those used within the factory and specified under rule 57A notifications; permit, subject to Collector's conditions, transfer of unutilised Form RG 23A credit on shifting a manufacturer's plant to another site of the same manufacturer; and recast input-credit recovery in rule 57-I to authorize the proper officer to serve a show-cause notice within a prescribed lookback period for credits taken by error or misconstruction, allow extended review where there is wilful misstatement, and require repayment or non utilisation of credit disallowed up to the amount specified in the notice.
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 
