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Input tax credit
if we don't have any tax liability in this case we claim any wrong ITC so we have to pay interest for that claim....
Replies (3)
Yes... If You claimed it Availed any Wrong ITC then You will pay interest 24%...
Yes... As per section 50 (3) CGST Act , interest Rate is 24%
Yes claiming wrong ITC will leads to interest @ 24%
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