The Meghalaya Value Added Tax Act 2003 (Act No.2 of 2005).pdf
Section 14. Input tax credit exceeding tax liability
(1) If a registered dealers (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.
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