INPUT TAX CREDIT
This query is : Resolved
06 September 2020
SIR, MANY OF CLIENT HAVE HUGE GST INPUT CREDIT SINCE 2017, TAX RATE OF INWARD AND OUTWARD SUPPLY IS SAME, SHALL WE WRITEOFF SUCH EXCESS CREDIT IN PROFIT AND LOSS ACCOUNT AS NO REFUND CAN BE CLAIMED NOW.
06 September 2020
No need to write off, as there is no time limit for utilisation of credit.
06 September 2020
What is the reason of accumulation of huge credit?
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