we had done reversal of GST u/s 42&43 and also under other category.
afterwards we had found that the reversal that we had done wrongly, can we take recredit of that on suo Moto basis.
if yes, then give me reference section and if no then what is the reason.
Thanks
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Wrong reversal done in section 42 and other catagory
Replies (1)
There is no specific time for reavailment of credit and hence such credit reversed wrongly could be availed. Reference of rule 37(4) could be taken as it mentions that time limit of 16(4) is not applicable for re-availment of any credit in accordance with provisions of the act which was reversed earlier.
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