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ITC ISSUE

This query is : Resolved 

Respected Sir,

Till today I follow the practice taking ITC as per books only and I never compared with 2-A and at this moment too I think I should go ahead as per the past practice and rest of the matter shall be considered after Dec 2020.

Whether some notification may come on this issue.

I have heard that so many people are taking as per the books only. Any way we will see in Dec 20.

You may get a show cause notice from the department. However, if you are ready to fight out the case till Tribunal or SC then you can. There is strength in the case but you have to consider amount of ITC involved, Litigation costs and the interest and penalty payable in case you lose.the case.



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