Excess input tax credit distribution triggers recovery from recipients with interest under applicable recovery and determination provisions. Where an Input Service Distributor distributes Input Tax Credit in contravention of distribution rules resulting in excess allocation, the excess credit ... Summary
Excess input tax credit distribution triggers recovery from recipients with interest under applicable recovery and determination provisions.
Where an Input Service Distributor distributes Input Tax Credit in contravention of distribution rules resulting in excess allocation, the excess credit shall be recovered from the recipients with interest, and the general recovery and determination provisions shall apply mutatis mutandis to determine and enforce the amount to be recovered.
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