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Rule 43

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(Querist)
14 December 2018 Why is need to pay interest on reversal of credit every month on the basis of taxable and exempt sale??
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Udaya Chandran

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Udaya Chandran (Expert)
15 December 2018 Rule 43 is for distribution and reversal of input tax credit on capital goods that is used for both business and non-business or taxable and exempted supplies. You need to calculate eligible input tax credit every month.

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