Business was started in 2018. bought ATM machine. paid GST on machine. It was showing in Credit ledger. after that services of ₹ 50000 has been provided in last one year and credit of ₹ 8000 has been utilised against tax liability. but bcoz of poor performance, closing Business.
Still ₹20000 is showing in Credit ledger. There is no stock.
what to do with ITC?
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ITC - Cancellation of Registration
Replies (2)
you have to claim as refund..
You can claim it as a Refund because as you closed your business and there is no other option to avail such ITC other than claiming Refund .
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