Excess input tax credit distribution triggers recovery from recipients with interest under statutory recovery procedures. Where an Input Service Distributor distributes credit in contravention of distribution rules resulting in excess allocation to recipients, the excess ... Summary
Excess input tax credit distribution triggers recovery from recipients with interest under statutory recovery procedures.
Where an Input Service Distributor distributes credit in contravention of distribution rules resulting in excess allocation to recipients, the excess credit shall be recovered from such recipients along with interest, and the statutory recovery provisions shall mutatis mutandis apply for determination of the amount to be recovered.
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