Section 11(9) in Meghalaya Value Added Tax Act, 2003
(9)Notwithstanding anything contained in any sub-section of the section:(a)The amount of input tax credit shall not include tax paid or payable in other States or Unions Territories on goods brought into Meghalaya from outside the State.(b)No input tax credit shall be allowed against tax paid or payable on goods remaining unsold at the time of stoppage or closure of business and if a dealer has already taken any input tax credit against purchase of such stock of goods, there shall be reverse tax credit on the date of stoppage of closure of such business.(c)No input tax credit on tax paid or payable in Meghalaya on purchase of goods or inputs used in manufacturing of goods in Meghalaya and subsequently sent to other States or Union Territories otherwise than by way of sale shall be available.Provided that if a dealer has already taken input tax credit either in full or in part, there shall be a reverse credit against each such transfer in the manner as may be prescribed.(d)No input tax credit shall be allowed against tax paid or payable on such purchase and under such terms and conditions as may be prescribed.(e)For the purpose of determining the amount of input tax to be reverse under this section, any one of the methods as may be prescribed will be applied.
