The Central Goods and Services Act, 2017 (CGST Act) Section 42 – Matching, reversal and reclaim of input tax credit (1) The details of every inward supply furnished by a registered person (hereafter in this section referred to as the “recipient”) for a tax period shall, in such manner and within such time as may
The Central Goods and Services Act, 2017 (CGST Act) Section 41 – Claim of input tax credit and provisional acceptance thereof (1) Every registered person shall subject to such conditions and restrictions as may be prescribed be entitled to take the credit of eligible input tax as self-assessed in his return and such amount shall
The Central Goods and Services Act, 2017 (CGST Act) Section 40 – First return Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him
The Central Goods and Services Act, 2017 (CGST Act) Section 39 – Furnishing of returns. 1(1) Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section 51 or section 52 shall for every calendar month or part thereof, furnish, in such form, manner
The Central Goods and Services Act, 2017 (CGST Act) Section 38 – Furnishing details of inward supplies (1) Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section 51 or section 52 shall verify validate modify or delete if required the details relating
The Central Goods and Services Act, 2017 (CGST Act) Section 37 – Furnishing details of outward supplies (1) Every registered person, other than an Input Service Distributor, a non-resident taxable person and a person paying tax under the provisions of section 10 or section 51 or section 52 shall furnish electronically in such form and manner as may be prescribed, the
The Central Goods and Services Act, 2017 (CGST Act) Section 36 – Period of retention of accounts Every registered person required to keep and maintain books of account or other records in accordance with the provisions of sub-section (1) of section 35 shall retain them until the expiry of seventy-two months from the due date of furnishing
The Central Goods and Services Act, 2017 (CGST Act) Section 35 – Accounts and other records (1) Every registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of— (a) production or manufacture of goods. (b) inward and outward supply of
The Central Goods and Services Act, 2017 (CGST Act) Section 34 – Credit and Debit notes. (1) Where one or more tax invoices have been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax
The Central Goods and Services Act, 2017 (CGST Act) Section 33 – Amount of tax to be indicated in tax invoice and other documents Notwithstanding anything contained in this Act or any other law for the time being in force, where any supply is made for a consideration, every person who is liable to pay