Excess input tax credit distribution makes recipients liable for recovery with interest under applicable tax recovery provisions. Where an Input Service Distributor distributes input tax credit in contravention of distribution rules resulting in excess credit to one or more ... Summary
Excess input tax credit distribution makes recipients liable for recovery with interest under applicable tax recovery provisions.
Where an Input Service Distributor distributes input tax credit in contravention of distribution rules resulting in excess credit to one or more recipients, the excess credit shall be recovered from those recipients along with interest, and the recovery and determination of amounts shall apply by way of the designated recovery provisions mutatis mutandis.
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