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Reversal - Input
Indirect Taxation
Whats the time limit for reversing excess input claimed .
Answers (10)
Thread Starter
Balamurali Unnithan M SI ask about , doubling the input by data entry mistake ?
If the input tax credit is wrongly claimed, then it should be reversed by making payment to that extent next month.
Thread Starter
Balamurali Unnithan M SMaking payment?
Add to output tax liability and all ITC reversals which increase output tax liability are required to be paid.
Thread Starter
Balamurali Unnithan M SBut reduce the excess input availed , if have input availed !
Could you clarify what is the query in this
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