Section 38. Communication of details of inward
supplies and input tax credit.*
(1) The details of outward supplies furnished by the
registered persons under sub-section (1) of section 37 and of such other
supplies as may be prescribed, and an auto-generated statement containing the
details of input tax credit shall be made available electronically to the
recipients of such supplies in such form and manner, within such time, and
subject to such conditions and restrictions as may be prescribed.
(2) The auto-generated statement under sub-section (1)
shall consist of––
(a)
details of inward supplies in respect of which credit of input tax may be
available to the recipient; and
(b)
details of supplies in respect of which such credit cannot be availed, whether
wholly or partly, by the recipient, on account of the details of the said
supplies being furnished under sub-section (1) of section 37,––
(i)
by any registered person within such period of taking registration as may be
prescribed; or
(ii)
by any registered person, who has defaulted in payment of tax and where such
default has continued for such period as may be prescribed; or
(iii)
by any registered person, the output tax payable by whom in accordance with the
statement of outward supplies furnished by him under the said sub-section
during such period, as may be prescribed, exceeds the output tax paid by him
during the said period by such limit as may be prescribed; or
(iv)
by any registered person who, during such period as may be prescribed, has
availed credit of input tax of an amount that exceeds the credit that can be
availed by him in accordance with clause (a), by such limit as may be
prescribed; or
(v)
by any registered person, who has defaulted in discharging his tax liability in
accordance with the provisions of sub-section (12) of section 49 subject to
such conditions and restrictions as may be prescribed; or
(vi)
by such other class of persons as may be prescribed.]
