https://www.taxtmi.com/acts?id=21531 Excess input tax credit distributed by an Input Service Distributor must be recovered with interest from the distributor; if excess arises from distribution contrary to distribution conditions, the excess is recoverable with interest from the recipient supplier(s). Recovery procedures specified elsewhere apply mutatis mutandis. The relevant period for assessing recipients' turnover is normally the preceding financial year, or where recipients lack such turnover, the most recent quarter for which turnover details for all recipients are available prior to the month of distribution. en-us Wed, 15 Jun 2016 14:30:07 +0530 Wed, 15 Jun 2016 14:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21531 Excess input tax credit distributed by an Input Service Distributor must be recovered with interest from the distributor; if excess arises from distribution contrary to distribution conditions, the excess is recoverable with interest from the recipient supplier(s). Recovery procedures specified elsewhere apply mutatis mutandis. The relevant period for assessing recipients' turnover is normally the preceding financial year, or where recipients lack such turnover, the most recent quarter for which turnover details for all recipients are available prior to the month of distribution. Act-Rules Bills Wed, 15 Jun 2016 14:30:07 +0530 https://www.taxtmi.com/acts?id=21531