Complete Case Digest on Wrongful Availment of ITC

ITC - Input tax credit - GST - Input Tax Credit - GST ITC reversal - Input Tax Credit penalty - taxscan

As per the GST provisions, if an entity wrongly avails Input Tax Credit ( ITC ) but hasn’t utilised it, it must reverse the credit along with interest within a specific period. Failing to do so may lead to penalty proceedings. Penalty Amount: If you have wrongly availed and utilised the ITC, the penalty can…

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