What to do with unutilised ITC?
Laltha Zuala (153 Points)
29 November 2022Laltha Zuala (153 Points)
29 November 2022
Gowtham
(Student)
(1174 Points)
Replied 29 November 2022
If a good is used for personal purpose no ITC shall be taken on the same as per Section 17. It's a blocked credit
Laltha Zuala
(153 Points)
Replied 29 November 2022
Ok. Then, who will block the credit so that the ITC is not utilised?
Gowtham
(Student)
(1174 Points)
Replied 29 November 2022
Hi, You shouldn't have taken the credit on goods used for personal purpose. You need to reverse the ITC taken.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)