Difference between itc ineligible and itc reversal?
Kapil Tyagi (MANAGER ACCOUNTS) (44 Points)
11 August 2017
What is Difference between itc ineligible and itc reversal under gst
2 Replies
kalpesh patel
(32 Points)
Replied 11 August 2017
ITC ineligible means ITC block as per law. we can not take credit of such supplies. where ITC reversal means we taken credit but we have not pay supply amount along with tax to supplier in specific time period which is 180 days from the invoice than we reverse the ITC credit.
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