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Section 13: Net tax credit

The Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdfState Act of Meghalaya · Act 2 of 2005

The net tax credit to which a registered dealer is entitled shall be determined by the following formula, namely:-

Net tax credit=A+B+C

Where

A = the amount of input tax credit the dealer is entitled to under sub-section (1) of section 11.

B = outstanding credit brought forward as determined under clause (1) of section 11 from the previous period or under sub-section (2) of section 19.

C= reverse tax credit as determined under section 12.

Where this provision sits

ActThe Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdf
Section13
Marginal noteNet tax credit
JurisdictionState of Meghalaya
StatusIn force as published by the source

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