Excess input tax credit recovery: recipients liable for repayment with interest and assessment provisions applied mutatis mutandis. Where an Input Service Distributor distributes credit contrary to the prescribed distribution requirements resulting in excess credit to recipients, the ... Summary
Excess input tax credit recovery: recipients liable for repayment with interest and assessment provisions applied mutatis mutandis.
Where an Input Service Distributor distributes credit contrary to the prescribed distribution requirements resulting in excess credit to recipients, the excess credit shall be recovered from those recipients along with interest, and the procedural and determination provisions of sections 73 or 74 apply mutatis mutandis to determine the amount to be recovered.
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