Section 38(2)(b)(iv) of CGST Act 2017
dhaneswar sutradhar (Inspector) (28 Points)
10 September 2023dhaneswar sutradhar (Inspector) (28 Points)
10 September 2023
Suresh Kumar
(Account)
(403 Points)
Replied 17 September 2023
Section 38 (2)(b) (iv) by any registered person who, during such period as may be prescribed, has availed credit of input tax of an amount that exceeds the credit that can be availed by him in accordance with clause (a), by such limit as may be prescribed; or
It means if Supplier has availed and utilized excess ITC than recipient's ITC would be cut off to the extent of these excess ITC availed by supplier.
By the way, This is UNETHICAL.