Dear Sir
We need to reverse ITC due to credit note by supplier but we don't have ITC in month. So can I pay reversal ITC value in cash mode please suggest what is the procedure
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 April 2021
If there is no balance in credit ledger at the time of annual return, it can be reverse through payment of Tax in cash.
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