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    <title>Reclaim of ITC earliear reversed under Rule 42 of GCST Act</title>
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    <description>Reclaim of Input Tax Credit reversed under Rule 42 is permissible where supplies become taxable, subject to the time limit under Section 16(4). The taxpayer may treat the original reversal as a disclosure error, should promptly intimate the department after re-claiming, and must retain supporting documents evidencing use of inputs for taxable supplies.</description>
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      <title>Reclaim of ITC earliear reversed under Rule 42 of GCST Act</title>
      <link>https://www.taxtmi.com/forum/issue?id=119754</link>
      <description>Reclaim of Input Tax Credit reversed under Rule 42 is permissible where supplies become taxable, subject to the time limit under Section 16(4). The taxpayer may treat the original reversal as a disclosure error, should promptly intimate the department after re-claiming, and must retain supporting documents evidencing use of inputs for taxable supplies.</description>
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