Section 14: Input tax credit exceeding tax liability

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

(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.

Where this provision sits

Act	The Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdf
Section	14
Marginal note	Input tax credit exceeding tax liability
Jurisdiction	State of Meghalaya
Status	In force as published by the source

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