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Ineligible ITC under section 16(4)
if a taxpayer files the march 2019 return in March 2021, Is the ITC claimed ineligible under section 16(4)? will the ITC Offset amount needs to be reversed with interest?
Replies (2)
Ineligible ITC CLAIMED HAS TO BE REVERSED DEPENDING UPON THE TENURE OF SUBMISSION OF RETURN AND REVERSAL OF RETURN.
Yes it is time barred under section 16(4)
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