https://www.taxtmi.com/forum/issue?id=109461 Section 41 treats tax improperly collected as forfeitable and required to be remitted to government after deducting eligible input tax credit on corresponding purchases. The administrative position is that dealers enjoying threshold exemption are not entitled to input tax credit; if such a dealer nevertheless collects output VAT, the collected sum must be deposited with the exchequer and constitutes a statutory liability. en-us Fri, 27 Nov 2015 14:01:38 +0530 Thu, 23 Jan 2025 15:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109461 Section 41 treats tax improperly collected as forfeitable and required to be remitted to government after deducting eligible input tax credit on corresponding purchases. The administrative position is that dealers enjoying threshold exemption are not entitled to input tax credit; if such a dealer nevertheless collects output VAT, the collected sum must be deposited with the exchequer and constitutes a statutory liability. Discussion-Forum VAT / Sales Tax Fri, 27 Nov 2015 14:01:38 +0530 https://www.taxtmi.com/forum/issue?id=109461