Friday 30 August 2013

Declaration under sec. 73 can't be rejected without calling upon assessee to reverse pro-rata credit

ST: As per section 73 of Finance Act, 2010, on receipt of declaration making pro rata reversal of credit relating to exempted goods, Commissioner may verify correctness of amount paid and call upon assessee to pay differential amount, if any; but, he cannot reject declaration without granting a hearing to assessee


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