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wrong availment of ITC and reversal thereof

Goods and Services Tax - Started By: - BalKrishan Rakheja - Dated:- 17-4-2018 Last Replied Date:- 19-4-2018 - A dealer availed ITC amounting to ₹ 5.25 Crore of CGST in the month of July 2017 as input tax credit without receiving the goods and a .....

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eley. But he reversed the same in the month of February 2018 from the IGST Credit. Moreover he utilized this amount (wrongly credit availed in July 2017) for payment of duty of output tax in the month of October and November 2017. Now the question is .....

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so by way of fraud and willful misstatement .4. whether he should not deposit this amount in cash account as the ITC availed wrongly was has already been used. if It was was not been availed by him in July 2017, then he was required to pay duty from .....

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interest is chargeable even if taken but not utilized. You have taken and used both wrongly.(3) Yes. (4) The dealer will have to pay GST in cash as no credit was legally available to dealer. In case the dealer deposits due GST along with interest on .....

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r Wrongful IPT Claim worth 52 CroreA Chartered Accountant and an excise and taxation department officer (ETO), namely Rajesh Arora and Gaurav Bahal have been arrested in Gurugram for claiming wrongful input tax credit claim worth 52 crore rupees, rep .....

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