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Excess ITC availed than limit under rule 36(4)
we took credit related to previous month or combination of 2 or 3 months which will have crores of amount. Due to this additional credit the ITC taken was exceeded the credit limit under rule 36(4).Hence govt has sent a mail regarding intimation to reverse additional credit by filing DRC-03 along with interest. how to reply to the department regarding this issue?
Replies (5)
Quick Summary
Currently the mail doesn't contain DIN so need not worry
For our case the same,how to rectify the same to whom we should reply
This a kind of advisory need not to reverse wait for any action by department.
Ms. Roshni currently DIN is mandatory for central jurisdiction not for state Jurisdiction.
First of all check, whether any reference to recovery proceedings is there or not.
Further, the response can be furnished challenging the validity of Rule 36(4).
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