https://www.taxtmi.com/acts?id=2858 Section 8 requires dealers to adjust output tax in the tax return for the period when it becomes apparent if tax charged or accounted on a sale is incorrect due to sale cancellation, fundamental variation, altered consideration (excluding credit note post sale discounts), returns within six months, or bad debt write off. Excess tax payable is treated as arising in that period and not attributable to prior periods; excess tax already accounted for is deducted in that period. For goods partly used for taxable and other purposes, tax is calculated as the greater of A - (A x B / C) or A - B, with A, B and C defined by prior input credit reductions. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 21 Jul 2015 13:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=2858 Section 8 requires dealers to adjust output tax in the tax return for the period when it becomes apparent if tax charged or accounted on a sale is incorrect due to sale cancellation, fundamental variation, altered consideration (excluding credit note post sale discounts), returns within six months, or bad debt write off. Excess tax payable is treated as arising in that period and not attributable to prior periods; excess tax already accounted for is deducted in that period. For goods partly used for taxable and other purposes, tax is calculated as the greater of A - (A x B / C) or A - B, with A, B and C defined by prior input credit reductions. Act-Rules VAT - Delhi Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=2858