Reversal of itc

when are we supposed to reverse itc
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Quick Summary
This discussion clarifies the circumstances under which Input Tax Credit (ITC) must be reversed. It highlights that reversal is necessary when you have claimed excess ITC, availed incorrect ITC, or in situations involving purchase returns and debit notes.

When we excessively claimed ITC or due to purchase returns, debit notes or any other of such sort
When you take excess ITC or have availed wrong ITC then in such cases ITC shall be reversed

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