Input Tax Credit - difficulties to buyer due to revision of return by the seller - matched transaction of a tax period would be hard coded meaning thereby that after the filling of return such transactions would be unaffected by revision of return

Input Tax Credit - difficulties to buyer due to revision of return by the seller - matched transaction of a tax period would be hard coded meaning thereby that after the filling of return such transactions would be unaffected by revision of return https://www.taxtmi.com/circulars?id=53872 Sale-purchase entries mutually matched for a tax period are treated as hard coded after filing so seller revisions will not alter matched transactions or cause buyer ITC mismatches. If both buyer and seller erred in reporting, the buyer may approach the Assessing Authority with the seller's admission; upon verification the Authority may allow both parties to reopen and revise the relevant hard coded entries within the prescribed DVAT revision period. en-us Tue, 01 Sep 2015 00:00:00 +0530 Tue, 01 Sep 2015 19:09:00 +0530 TaxTMI RSS Generator Input Tax Credit - difficulties to buyer due to revision of return by the seller - matched transaction of a tax period would be hard coded meaning thereby that after the filling of return such transactions would be unaffected by revision of return https://www.taxtmi.com/circulars?id=53872 Sale-purchase entries mutually matched for a tax period are treated as hard coded after filing so seller revisions will not alter matched transactions or cause buyer ITC mismatches. If both buyer and seller erred in reporting, the buyer may approach the Assessing Authority with the seller's admission; upon verification the Authority may allow both parties to reopen and revise the relevant hard coded entries within the prescribed DVAT revision period. Circulars VAT - Delhi Tue, 01 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53872