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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
