Should we first claim total ITC and then declare the total ineligible ITC or declare ineligible ITC after deducting from Total ITC
Example: Total ITC 1000
Eligible ITC 250
Ineligible ITC 750
Kindly explain.
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Ineligible itc provedure
Replies (1)
C1 =Total Credit - Ineligible ITC (1000-750)
C1 is 250/- will be transferred to ECL
Hence claim total ITC & then declare the Ineligible ITC .
For more clarification refer Rule 42
C1 is 250/- will be transferred to ECL
Hence claim total ITC & then declare the Ineligible ITC .
For more clarification refer Rule 42
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