As per GST how to determine claiming and utilization of excess ITC is fraudulent or not.
in the beginning of there were lots of confusions.
Whether claiming n utilizing itc on car will be considered as willful misrepresentation or suppression of facts n whtether proceedings u/s 74 can be attracted?
please guide.
Fraudulent ITC is where it has been claimed and utilised with wrong intentions to evade tax such as from non existent or fake suppliers, without actual receipt of goods etc.
Claiming and utlising ITC for car does not amount to a fraudulent transaction u/s 74.
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