Ineligible ITC claimed in FY 2017-18
amard.prajapati@gmail.com (12 Points)
14 January 2020what is the solutions for this.
can i reversed this ITC without interest.
amard.prajapati@gmail.com (12 Points)
14 January 2020
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 14 January 2020
E.KALAIKOVAN
(Sr. Accounts Manager )
(341 Points)
Replied 21 September 2021
Interest @ 18% is applicable only on ineligible ITC availed and utilsed. In this case ineligible ITC not utilised.
Hence interest is not applicable
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961