https://www.taxtmi.com/article/detailed?id=9678 A new rule mandates a cash contribution when discharging output tax, capping electronic credit so ITC cannot fully discharge output liability for months where taxable supplies exceed the threshold, subject to narrowly drawn exemptions (income tax payments, prior refunds, cumulative cash discharge, exempted entities) and authority verification. Concurrent amendments limit provisional ITC claims for invoices not furnished by suppliers by reducing the permissible proportion and linking access to supplier filing of outward supply returns or invoice furnishing. en-us Thu, 11 Feb 2021 06:01:41 +0530 Thu, 11 Feb 2021 06:01:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9678 A new rule mandates a cash contribution when discharging output tax, capping electronic credit so ITC cannot fully discharge output liability for months where taxable supplies exceed the threshold, subject to narrowly drawn exemptions (income tax payments, prior refunds, cumulative cash discharge, exempted entities) and authority verification. Concurrent amendments limit provisional ITC claims for invoices not furnished by suppliers by reducing the permissible proportion and linking access to supplier filing of outward supply returns or invoice furnishing. Articles Goods and Services Tax - GST Thu, 11 Feb 2021 06:01:41 +0530 https://www.taxtmi.com/article/detailed?id=9678