MVAT Act 14Chapter II · Incidence and Levy of Tax
Section 14 · Input tax credit exceeding tax liability
Text size — level 1 of 4
(1)
If a registered dealer's (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.Your private note on this section
Only you can see this note.