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R.25 Reduction on account of reversal of input tax credit U.P. VAT RULES

R.25 Reduction on account of reversal of input tax credit-

Where a dealer, who has claimed input tax credit of full amount of input tax in respect of any goods, uses, consumes, disposes of or dispossesses-

(a) such goods; or

(b) any goods manufactured, processed or packed by using such goods, in a manner in which he either is not entitled to claim any amount of input tax credit or is entitled to claim input tax credit of an amount which is lesser than the amount of input tax shall compute amount of reverse input tax credit in respect of such goods or such manufactured, processed or packed goods on the day on which such goods or such manufactured, processed or packed goods are disposed of or dispossessed and such amount of reverse input tax credit shall be debited in the input tax credit account on the same day.

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .