Excess input tax credit recovery requires reimbursement from recipients with interest and application of demand procedures. Where an Input Service Distributor distributes credit in contravention of section 20 resulting in excess distribution, the excess credit shall be recovered from such recipients along with interest, and the provisions of section 73 or section 74 shall, mutatis mutandis, apply for determination of amount to be recovered.
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Excess input tax credit recovery requires reimbursement from recipients with interest and application of demand procedures.
Where an Input Service Distributor distributes credit in contravention of section 20 resulting in excess distribution, the excess credit shall be recovered from such recipients along with interest, and the provisions of section 73 or section 74 shall, mutatis mutandis, apply for determination of amount to be recovered.
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