Is reversal of input tax credit maintainable when the selling dealer's RC is cancelled?

RENGARAJ R.K , Last updated: 17 January 2015  
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Introduction: When a dealer purchases his inputs from his vendor and claims the eligible Input Tax Credit (ITC), with a bonafide belief, in his monthly VAT return and later the selling dealers RC is cancelled, whether he should reverse the ITC?. In such a situation, when the Department issue

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RENGARAJ R.K
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Category VAT   Report

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