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reverse ITC
our output service is exampted..we take ITC every month. But We are not utilise the ITC. now our lawyer advice us to revise all ITC. my question is should we pay interest.
Replies (1)
if your service is not liable for output tax then you can not avail ITC (SEZ and Export rules not considered)
better you should reverse ITC, but don't pay interest
second advise required by members
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