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Chargeability of Int on ITC


Mahesh Khare (Proprietor)     04 January 2020

Mahesh Khare
Proprietor 
 1 likes  33 points

| My Other Post

In case whole year if tax is not payable due to excess itc. and his no is cancelled after filing all the returns I have filed revocation of cancellation application. Now Authority said that you have to pay int on itc consumed also. I told him that if the balance of itc is with you in credit ledger and our purchase party had already paid tax on it why I will pay int on itc again. Please clarification on the said issue.

avater

Arjun Gupta (Chartered Accountant)     04 January 2020

Arjun Gupta
Chartered Accountant 
 6 likes  134 points

View Profile | My Other Post

Refer Section 50 alongwith Press Note released on 22-12-2018


Attached File : 886144 20200104123253 22181222 press release 31st gst council policy in principle.pdf downloaded: 33 times

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