Rejection of ITC for belated returns is unsustainable following the statutory amendment extending time limits.
Rejection of ITC for belated returns is unsustainable following the statutory amendment extending time limits. Issue Whether the rejection of Input Tax Credit (ITC) on the ground of belated filing of returns under Section 16(4) is sustainable after the statutory incorporation of Section 16(5) refixing the timelines for returns and ITC claims. Facts Nature of… Read More »