Input tax credit recovery: excess credits distributed must be recovered from recipients with interest and applicable assessment provisions. Where an Input Service Distributor distributes input tax credit in contravention of the distribution rules, any excess credit distributed shall be recovered from the recipients along with interest, applying the statutory assessment and determination procedures mutatis mutandis to compute the amount recoverable.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit recovery: excess credits distributed must be recovered from recipients with interest and applicable assessment provisions.
Where an Input Service Distributor distributes input tax credit in contravention of the distribution rules, any excess credit distributed shall be recovered from the recipients along with interest, applying the statutory assessment and determination procedures mutatis mutandis to compute the amount recoverable.
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