https://www.taxtmi.com/forum/issue?id=117264 Excess ITC claimed where supplier details were not furnished is limited by a 5% threshold; excess must be reversed with interest, and may be reclaimed when the supplier later uploads the invoice. Recovery on scrutiny can include interest and penalties. The position was contested for periods before Oct 2019 and until the Finance Act, 2021 amendment, which inserted a requirement in section 16(2) that supplier outward supply details be filed and communicated to the recipient before ITC can be claimed. en-us Fri, 04 Jun 2021 13:39:27 +0530 Thu, 23 Jan 2025 15:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117264 Excess ITC claimed where supplier details were not furnished is limited by a 5% threshold; excess must be reversed with interest, and may be reclaimed when the supplier later uploads the invoice. Recovery on scrutiny can include interest and penalties. The position was contested for periods before Oct 2019 and until the Finance Act, 2021 amendment, which inserted a requirement in section 16(2) that supplier outward supply details be filed and communicated to the recipient before ITC can be claimed. Discussion-Forum GST Fri, 04 Jun 2021 13:39:27 +0530 https://www.taxtmi.com/forum/issue?id=117264