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Penalty on ineligible utilization itc
penalty on ineligible utilization itc
Replies (5)
24% interest applicable as excess claimed ITC.
Yes as per Section 50 of CGST act , it's 24% interest is applicable.
note : No penalty
note : No penalty
Utilisation of ineligible ITC pay 24% interest as per Section 50 of CGST Act.
Please refer section 73/74/122 also
Tell me the list of items ineligible in gst ???
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