Section 11(8) in Meghalaya Value Added Tax Act, 2003
(8)Subject to other sub-sections of this section, input tax credit referred to in sub-section (1) in relation to a period shall be determined as follows:- The input tax credit is the aggregate of input tax paid or payable by the dealer in relation to a period less.(i)Input tax paid or payable in respect of goods returned or rejected by him during such period.(ii)Input tax paid or payable in respect of goods taxable under this Act or inputs used for manufacturing of such goods, as the case may be disposed of otherwise than by way of sale.
