Reversal of itc

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24 Points Posted on 22 March 2021
when are we supposed to reverse itc
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On 22 March 2021 at 12:54 Report
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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.

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CA in Practice CMA by Qualification
1593 Points Posted on 22 March 2021
When we excessively claimed ITC or due to purchase returns, debit notes or any other of such sort
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On 22 March 2021 at 13:36
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Chartered Accountant
24588 Points Posted on 22 March 2021
When you take excess ITC or have availed wrong ITC then in such cases ITC shall be reversed
1 Reply
On 22 March 2021 at 14:14

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