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Reversal of ITC Query

Indirect Taxation

Kindly see the attached file... Reversal of ITC S.18(4) r/w Rule 44 Calculation query: I'm getting 6 months instead of 5 (5x12=60mths)-[(4x12)+6=54mths]Â

Deepak Gupta

CA Inter

★ 1K+

13-Oct-20 18:24

331

Answers (3)

You have not considered 15 days

CA Suraj Lakhotia

Admin

14-Oct-20 09:45

But sir it says that ignore part of the month... or does it mean that we have to ignore part of month in the balance useful life and not at the time of calculation or from the period of already used...?

Thread Starter

Deepak Gupta

CA Inter

★ 1K+

14-Oct-20 10:26

Ignored for balance.

CA Suraj Lakhotia

Admin

14-Oct-20 12:13