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Utilisation of itc

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(Querist)
08 February 2020 As per sec 41 of cgst act,ITC shall be adjusted against output tax payable under self assessment basis u/s 59.Now if we want to pay tax in drc03 in pursuance to DRC 01, then can it be setoff through ITC? Though portal allow to setoff the ITC from credit ledger,sec 41 restrict it.If we pay the tax from credit ledger,can the dept.issue notice in future?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
08 February 2020 Yes such payment can be made through ITC no notice will be issued.
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Sabita Sahoo

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Sabita Sahoo (Querist)
08 February 2020 Thank u sir for your answer.How could you ensure this?
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Sabita Sahoo

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Sabita Sahoo (Querist)
14 February 2020 What is your view regarding sec41 restricting setoff through ITC?
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