https://www.taxtmi.com/circulars?id=11744 Recent amendments require reversal of Input Tax Credit for inter-state sales against C Forms but Rules to implement this are pending; the department will seek Government consideration of a mechanism to restore credit when C Forms are not received. The returns-matching software showed no systemic mismatches; default assessments and penalties may be framed under the Act where discrepancies arise. Authorities are instructed not to reject or reduce refund claims without passing orders. Circular No. 5 is voluntary, quarterly return deadlines have been extended, CST deposit issues are under examination, and a committee will improve building facilities. en-us Mon, 23 Jul 2012 00:00:00 +0530 Wed, 25 Jul 2012 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11744 Recent amendments require reversal of Input Tax Credit for inter-state sales against C Forms but Rules to implement this are pending; the department will seek Government consideration of a mechanism to restore credit when C Forms are not received. The returns-matching software showed no systemic mismatches; default assessments and penalties may be framed under the Act where discrepancies arise. Authorities are instructed not to reject or reduce refund claims without passing orders. Circular No. 5 is voluntary, quarterly return deadlines have been extended, CST deposit issues are under examination, and a committee will improve building facilities. Circulars VAT - Delhi Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11744