Home Forum Goods and Services Tax - GST Month 6 2022 2022 (6) This
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Availing ITC however outward is exempted - Goods and Services Tax - GSTExtract Sir/Madam Please enlight when party is availing ITC however outward supplies are exempted. By this way, ITC is getting accumulated as No duty is payable . 1) Is there any provision which restricts the availing of ITC this way ? Or 2) is there any time limit till then, the said ITC to be reversed ? We know that availing of ITC is not penal-able till its utilisation. As per department, party should not avail ITC when its outward supplies are exempted and to reverse the same under section 74(5) of the CGST Act, 2017 .
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