what if i ignor 20% itc rule and take full itc on the basis of invoices? is there any 100% penal provision along with Interest?
2 Replies
SOWJANYA M
(840 Points)
Replied 20 December 2019
You may receive notice from jurisdictional tax officers stating that you didn't abide the rules and thus may penalise
Sivaramaraju G
(Learner)
(2398 Points)
Replied 20 December 2019
Later you have to pay tax with interest
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