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Excess itc claimed in2017-18
i have claimed excess itc in 2017-18 by purchase bill entered twice wrongly. but not utilized it for any output tax liability. now i reversed it through dec03 in november 2019 is interest applicable on it (excess itc)
Replies (1)
Kindly refer the current budget, it relaxes interest liability on excess itc claimed IF such itc has never been utilised by the registered person. You need to make sure that such itc was in the credit ledger all the time.
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