https://www.taxtmi.com/article/detailed?id=17404 The July 2022 Rule 43 amendment excludes duty credit scrip values from exempt-supply calculations for input tax credit reversal, but is analysed as a prospective fresh concession rather than a retrospective clarification. Pre-amendment MEIS scrip sales may therefore remain subject to proportionate reversal of common-input credit. Fraud-based proceedings require deliberate suppression, fraud, or wilful misstatement; non-reversal alone is insufficient. Where those elements are unproved, proceedings may be treated under the ordinary short-payment framework, with its applicable limitation and penalty provisions. en-us Tue, 15 Sep 2026 08:34:28 +0530 Tue, 15 Sep 2026 08:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17404 The July 2022 Rule 43 amendment excludes duty credit scrip values from exempt-supply calculations for input tax credit reversal, but is analysed as a prospective fresh concession rather than a retrospective clarification. Pre-amendment MEIS scrip sales may therefore remain subject to proportionate reversal of common-input credit. Fraud-based proceedings require deliberate suppression, fraud, or wilful misstatement; non-reversal alone is insufficient. Where those elements are unproved, proceedings may be treated under the ordinary short-payment framework, with its applicable limitation and penalty provisions. Articles Goods and Services Tax - GST Tue, 15 Sep 2026 08:34:28 +0530 https://www.taxtmi.com/article/detailed?id=17404