REVERSAL OF ITC 17-18
This query is : Resolved
24 November 2023
CAN WE REVERSE EXCESS ITC CLAIMED OF 2017-2018 THROUGH DRC 03
CAN WE PAY IT THROUGH ITC AVAILABLE IN CREDIT LEDGER.
CAN WE PAY IT THROUGH ITC AVAILABLE IN CREDIT LEDGER.
25 November 2023
Yes, All the payments need to be made either from input tax credit available in electronic credit ledger or cash balance available in the electronic cash ledger. But, in case of interest and penalties ITC utilisation is not available. It has to be compulsorily paid in cash.
25 November 2023
sir is there any documents related to the same please share it to me i will be grateful
25 November 2023
See the link.
https://vakilsearch.com/blog/procedure-to-pay-additional-tax-and-its-applicability/
https://vakilsearch.com/blog/procedure-to-pay-additional-tax-and-its-applicability/
25 November 2023
THANK YOU SO MUCH SIR
25 November 2023
You are welcome..
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