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Itc reverse of MEIS license
if I'm an exporter then export some products suppose value of 10 lakh.and I'll get some license of 1 lakh rs.then its required to itc reverse of proportionately due to license sale.
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You are not required to reverse Input Tax Credit (ITC) on the sale of MEIS licenses. An amendment (Notification No. 14/2022) specifically excludes the value of these duty credit scrips from the "exempt supply" calculation, removing the requirement to reverse common ITC for their sale.
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