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Credit notes query
For purchase returns to reverse the ITC for the FY 2017-18 I have entered them as outward sales to adjust the itc to my supplier in the month of March 2018 and later amended those invoices to zero by amendments. Do I have to pay the itc amount along with interest ?
Replies (2)
Debit Note should have been raised instead of accounting outward sales
Yes, you will have to pay it along with interest if you had utilised that ITC.
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