Recovery of excess input tax credit: excess credits must be reclaimed from recipients with interest under statutory determination procedures. Where an Input Service Distributor contravenes distribution rules and distributes excess input tax credit, the excess credit must be recovered from the ... Summary
Recovery of excess input tax credit: excess credits must be reclaimed from recipients with interest under statutory determination procedures.
Where an Input Service Distributor contravenes distribution rules and distributes excess input tax credit, the excess credit must be recovered from the recipients with interest, and the statutory determination provisions apply mutatis mutandis to calculate and enforce the amount to be recovered.
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