Section 54 has not taken in to consideration such scenario wherein excess input tax credit is on account of such a scenario wherein supplier had supplied goods to merchant exporters.The casual taxable individual is eligible for the refund of any balance of the advance tax deposited by him immediately after adjusting his tax liability. Sub-section five explains about the usage of goods and solutions brought but made use of for company as nicely as for individual consumption.They have to apply for registration at least five days in advance just before generating any provide.
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