Recovery of excess input tax credit: recipients must return excess with interest and assessment provisions apply. Where an Input Service Distributor distributes credit in contravention of entitlement provisions resulting in excess credit to recipients, the excess ... Summary
Recovery of excess input tax credit: recipients must return excess with interest and assessment provisions apply.
Where an Input Service Distributor distributes credit in contravention of entitlement provisions resulting in excess credit to recipients, the excess shall be recovered from such recipients along with interest, and the provisions governing assessment and recovery shall apply mutatis mutandis to determine the amount to be recovered.
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