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Articles by Rajeev 9814214503

Issue of reversal of Input Tax Credit on Iron and Steel Goods

Rajeev 9814214503 30 September 2014 at 11:01

Question is:Whether in terms of Rule 21(8) reversal on the stock at the rate of 2.20% i.e. (4.95 minus 2.75 ) of the available Input tax credit on such closing stock should be made? Brief Facts are :Date of Notification of Reduced rate of VATNotifica