If there is a balance of Rs.100000 in the electronic credit ledger on 1.12.17 but on 2.12.17 the goods become exempt from tax. What will be treatment of the balance input tax credit lying in the electronic credit ledger
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Treatment of itc lying in electronic credit ledger
Replies (2)
Claim refund by RFD-01
No you have to pay output on the stock and capital goods by reversal of credit ledger and any amount remaining shall be paid by cash ledgee
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