16(5) benefit if appeal filed-how to take

[SUSHIL BANSAL]

Dear experts,

for the FY 2019-20 we have filed appeal for 16(4) ineligible ITC, now the period extended as per section 16(5) and hence our ITC becomes eligible now.

My querry is whether we can withdraw the appeal and file rectification application.

AI Summary

Withdrawing Appeal on Ineligible ITC for 2019-20: Experts Advise Based on Section 16(5) Extension An individual inquired about the possibility of withdrawing an appeal related to ineligible Input Tax Credit (ITC) for the fiscal year 2019-20, as the period has been extended under section 16(5), making the ITC eligible. One expert advised withdrawing the appeal and filing a rectification application. Another suggested writing to the officer to decide the matter based on the new section 16(5) and issue appropriate orders. The individual expressed gratitude for the expert opinions received.