27 (1) Admissible amount of input tax credit for any assessment year shall be computed using the expression: A + B + C Where -
(a) "A" represents aggregate of amounts of input tax for such assessment year net of aggregate of amounts of reverse input tax credit for the assessment year;
(b) "B" represents the amount of input tax credit carried forward from the tax return of the last tax period of the assessment year preceding such assessment year; and
(c) "C" represents the aggregate of amounts of installments, if any, of input tax in respect of capital goods purchased on or after the date from which dealer has become liable for payment of tax and in respect of goods held in opening stock on the date on which dealer has become liable for payment of tax.
(2) Where, for any assessment year, expression in subrule (1) results in a negative figure, the dealer shall, without prejudice to his liability for payment of interest on such amount, deposit such amount of negative figure before submitting tax return for the last tax period of such assessment year.