Recovery of excess input tax credit requires recipients to repay distributed credit with interest and statutory assessment procedures apply. Where an Input Service Distributor distributes input tax credit in contravention of the distribution rules, any excess credit so distributed shall be ... Summary
Recovery of excess input tax credit requires recipients to repay distributed credit with interest and statutory assessment procedures apply.
Where an Input Service Distributor distributes input tax credit in contravention of the distribution rules, any excess credit so distributed shall be recovered from the recipients along with interest, and the statutory assessment and recovery procedures shall apply mutatis mutandis for determination of the amount to be recovered.
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