Section 22(17) in West Bengal Value Added Tax Act, 2003
(17)The [net tax credit for a tax period or a part thereof] [Substituted w.e.f. 01.04.2005 by S. 12(9) (e) (i) of WB Act XVIII of 2006 for 'net tax credit shall be determined'.] shall be determined in the following manner, namely:-Net tax credit = A + B - CWhere -"A" represents the amount of input tax credit or input tax rebate, for the tax period, which the dealer is entitled to under sub-section (1) subject to other provisions of this section and including input tax credit or input tax rebate availed in short of the eligible amount as referred to in sub-section (16) during the preceding tax periods not exceeding twelve English calendar months;"B" represents outstanding input tax credit or input tax rebate brought forward as determined from the previous tax period;"C" represents reverse tax credit as determined under the second proviso to sub-section (7) or sub-section (13) [or sub-section (15) ] [Substituted w.e.f. 01.04.2005 by S. 12(9) (e) (ii) of WB Act XVIII of 2006 for 'or provison to sub-section (15) '.] and includes the amount of input tax credit or input tax rebate availed in excess of the eligible amount as referred to in sub-section (16) .
