Say: "The truth has come, and the falsehood can neither create anything nor resurrect."
means, truth and the great Law have come from Allah, and falsehood has gone and has perished and vanished.
This is like the Ayah:
بَلْ نَقْذِفُ بِالْحَقِّ عَلَى الْبَـطِلِ فَيَدْمَغُهُ فَإِذَا هُوَ زَاهِقٌ
Nay, We fling the truth against the falsehood, so it destroys it, and behold, it is vanished. (21:18)
When the Messenger of Allah entered Al-Masjid Al-Haram on the day of the conquest of Makkah, and found those idols standing around the Ka`bah, he started to hit the idols with his bow, reciting,
وَقُلْ جَأءَ الْحَقُّ وَزَهَقَ الْبَـطِلُ إِنَّ الْبَـطِلَ كَانَ زَهُوقًا
And say: "The truth has come and the falsehood has vanished. Surely, the falsehood is ever bound to vanish." (17:81)
and:
قُلْ جَأءَ الْحَقُّ وَمَا يُبْدِىءُ الْبَـطِلُ وَمَا يُعِيدُ
Say: "The truth has come, and the falsehood can neither create anything nor resurrect."
This was recorded by Al-Bukhari, Muslim, At-Tirmidhi and An-Nasa'i.