21 March 2023
During FY 17-18, we paid Excess outward Tax liability and we are not able to adjust in subsequent returns taken as ITC in 3B of Sep 2018. we have all the support and we have on the opinion that there was no loss to the revenue, except the procedural laps
Can anyone suggest how to overcome this situation..
24 March 2023
The proper course of action would have been to apply for refund. Since you have taken the same into ITC notice may trigger at some point by the department asking you to explain the difference between the ITC claimed as per returns and ITC appearing in 2A. It is doubtful that the authorities below would agree.
CAclubindia
