Determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized for any reason other than fraud or any wilful misstatement or suppression of facts
Every registered taxable person shall himself assess the taxes payable under this Act and furnish a return for each tax period as specified under section 34.
Notwithstanding anything to the contrary contained in the Act, every electronic commerce operator (hereinafter referred to in this section as the operator), not being an agent, shall collect an amount calculated at the rate of one percent of the net value of taxable supplies made through it where the consideration with respect to such supplies is to be collected by the operator.
A registered taxable person (hereinafter referred to in this section as the principal) may, under intimation and subject to such conditions as may be prescribed, send any inputs and/or capital goods, without payment of tax, to a job worker for job -work and from there subsequently send to another job worker and likewise
Every registered taxable person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of production or manufacture of goods, of inward or outward supply of goods and/or services, of stock of goods, of input tax credit availed, of output tax payable and paid
On utilization of input tax credit availed under the CGST Act for payment of tax dues under the IGST Act as per sub-section Error! Reference source not found. of section 44, the amount collected as CGST shall stand reduced by an amount equal to the credit so utilized and the Central Government shall transfer an amount equal to the amount so reduced from the CGST account to the IGST account in the manner and time as may be prescribed.
