Recovery of excess input tax credit requires recipients to repay distributed excess with interest under statutory recovery provisions. When an Input Service Distributor distributes credit in breach of distribution rules, the excess credit given to recipients must be recovered from those ... Summary
Recovery of excess input tax credit requires recipients to repay distributed excess with interest under statutory recovery provisions.
When an Input Service Distributor distributes credit in breach of distribution rules, the excess credit given to recipients must be recovered from those recipients with interest, and the statutory recovery framework for determining and collecting such amounts applies mutatis mutandis.
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