Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
VAT - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Adjustment of tax liability – Out of input tax credit available ...

Case Laws     VAT and Sales Tax

August 28, 2015

Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer - no interest and penalty - HC

View Source

 


 

You may also like:

  1. Merely because while submitting the Form No.108 the assessee/dealer submitted the claim of Input Tax Credit more than which is held to be admissible on assessment may be...

  2. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  3. Disallowance of tax credit / service tax written off - disallowance made by the AO for the refund of input service tax written off - Prior period item - When the input...

  4. Jurisdiction of Proper Officer to invoke section 74 of the CGST/OGST Act - input tax credit - During the course of hearing, the Petitioner admitted that though he had...

  5. Revised return - additional tax liability - if the credit or adjustment is to be given to the amount of tax already paid, there is no reason why the credit of input tax...

  6. The issue pertains to the disallowance of excess Minimum Alternate Tax (MAT) credit u/s 115JAA and whether the amount of surcharge and education cess should be reduced...

  7. Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

  8. Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

  9. The High Court held that u/s 54 of the Goods and Services Tax Act, 2017, when the input tax credit paid is higher than the output tax, the dealer is entitled to seek a...

  10. Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

  11. Refund of excess tax paid - The Assessing Officer committed a serious error in providing for adjustment of the excess tax against the demands for the later years. - The...

  12. The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

  13. Input tax credit - duty paying invoices - case of petitioner is that the petitioner had availed Input Tax Credit on the strength of invoices issued by dealers who had...

  14. This trade circular clarifies the availability of input tax credit (ITC) on demo vehicles used by authorized dealers for motor vehicles. The key points are: ITC is...

  15. The High Court addressed the issue of liability to pay excess tax collection to the Government when the respondent's tax liability is higher than the tax collected. The...

 

Quick Updates:Latest Updates