Tax paid on goods lying with agents to be allowed as credit

Tax paid on goods lying with agents to be allowed as credit https://www.taxtmi.com/acts?id=23339 Agent entitlement to take input tax credit is allowed for goods of a principal lying at the agent's premises on the appointed day, subject to conditions: the agent is a registered taxable person; both principal and agent declare stock details for the date immediately preceding the appointed day in prescribed form and time; invoices were issued not earlier than twelve months preceding the appointed day; and the principal has reversed or not availed of the input tax credit for those goods. en-us Mon, 28 Nov 2016 12:39:07 +0530 Tue, 29 Nov 2016 14:37:27 +0530 TaxTMI RSS Generator Tax paid on goods lying with agents to be allowed as credit https://www.taxtmi.com/acts?id=23339 Agent entitlement to take input tax credit is allowed for goods of a principal lying at the agent's premises on the appointed day, subject to conditions: the agent is a registered taxable person; both principal and agent declare stock details for the date immediately preceding the appointed day in prescribed form and time; invoices were issued not earlier than twelve months preceding the appointed day; and the principal has reversed or not availed of the input tax credit for those goods. Act-Rules Bill Mon, 28 Nov 2016 12:39:07 +0530 https://www.taxtmi.com/acts?id=23339