We have received a notice of inquiry from GST dept for utilising more than 95% of input credit for discharging GST liability during FY 2017-18. We have utilised 99% itc & 1% cash for discharging liability. Is there any rules or law that we can not utilise more than 95% of ITC for discharging liability?
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Itc utilization
Replies (7)
you can upload notice?
no there is no such kind of law
send purchase and sales register
send purchase and sales register
no there is no such kind of provision
there is no such provision and one of my clent also recieved same type of notice the department people are sending this type of notice only to collect some bribe from the party
yes , you are correct there is no such provision in GST ,.. can file complain to Commissioner of Jurisdiction
there are 15 situations where you can claim ITC.
There are 15 situations where ITC cannot be availed
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