https://www.taxtmi.com/forum/issue?id=117373 The document addresses whether subsequently availed input tax credit may discharge a prior-period output tax shortfall. One view permits corrective adjustment if the taxpayer pays the tax due with interest and late fee; a contrary view insists eligibility conditions for ITC must be met in the earlier period, requiring cash payment for that period if credit was inadequate, and warns of departmental proceedings for improper retroactive utilisation. en-us Thu, 22 Jul 2021 16:53:57 +0530 Thu, 23 Jan 2025 15:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117373 The document addresses whether subsequently availed input tax credit may discharge a prior-period output tax shortfall. One view permits corrective adjustment if the taxpayer pays the tax due with interest and late fee; a contrary view insists eligibility conditions for ITC must be met in the earlier period, requiring cash payment for that period if credit was inadequate, and warns of departmental proceedings for improper retroactive utilisation. Discussion-Forum GST Thu, 22 Jul 2021 16:53:57 +0530 https://www.taxtmi.com/forum/issue?id=117373