Amendment status not verified — confirm the current text below against the official source.
every registered person shall in the returns furnished under sub-section (1) of section 39 verify, validate, modify or delete the details of supplies furnished by the suppliers. (2) Notwithstanding anything contained in section 4 l, section 42 or section 43, the procedure for availing of input tax credit by the recipient and verification thereof shall be such as may be prescribed. 3522 THE ASSAM GAZETTE, EXTRAORDINARY, OCTOBER 24, 2018 (3} l he pwcedurc for furnishing the details of OW\\ ard surplies by the supplic:r on the commun portal. fr>r the purposes of availing input tax cr~dit by the recipient shal I be such as may b~ prescribed. (4) rht: procedure for availing input tax credit in rl!spec1 or outward supplies not furnished under sub-section (3) shall be such as may be prescribed and such procedure may include the maximum amount of the input tax credit which can be so availed. not exceeding twenty per cent. of the input tax credit available. on the busis of dctaib furnished by the suppliers under the saiJ sub-section. \:"} The:: amount of tax specified in the outward :.upplics for v.hich the details have been turnislH.:d hy thl' supplier 1mdcr suh section (3) slrnll be dcerncJ to be the tax payable by him under the prn,·i'iiom: of thl'. i\c1 (6) The suppli1..·r and the nxipicnt of a ~uppl) !>hall be joiml: and scn-:rall) liable to pa) tax or It' p:.i} ihc 111puL tax creJiL ;r\.ailed. 11:'.I the Lc\St.: m::~ he, in rd at ion lo \)UI ward suppl ics for "l11ch tht' dc.:tails have hcl:'n fomishcJ unJer suh-sccuon (.-;) or suh-scction ( .t) but rl.!turn thL:rco!" has not been furnish~d. (7) For the purposes of suh-sct.:tion (6J, the rc1.:o\·cry shall be made in such manner as may be prcscrihcd an<l such procedure ma~ pro\·idl:' for HOil reCO\ Cf) of an amount of lax or mpul 1ax credit wrong!: availed not exceeding one thousand rupee!>. (8) 'l11c procedure, safeguards and threshold of the tax amount in relation to. outward supplies, the details of which can be furnished under sub- section (3) hy a n:gistcrcd person, (a) Within six months of taking registration; (b) who has defaulted in payment of tax and where such default has continued for more than two months from the due date of payment of such defaulted amount, shall be such as may be prescribed." THE ASSAM GAZETTE, EXTRAORDINARY, OCTOBER 24, 2018 3523 Amendment J9. of St.'<'tion 48 Amendment