section 14
Input tax credit exceeding tax liability
The Meghalaya Value Added Tax Act, 2003Tax2003117 sections12 chapters
Chapter II INCIDENCE AND LEVY OF TAX
Statutory text
- (1) If a registered dealers (other than an exporter) input tax credit determined under section 11 for a period exceed tax liability for that period, the excess may be set off against any outstanding tax under this Act. (2)The excess input tax credit after adjustment under sub-section (1) of Section 11 may be carried forward as an input credit to the following period or periods.
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