Managing Unresolved ITC and GST Liability Discrepancies: A Trigger for Recovery Action
Overview: GST is a major tax reform, which aims to provide a smooth flow of credit to taxpayers. Over the past year, many states’ GST departments have issued notices regarding discrepancies in Input Tax Credit (ITC). These notices ask taxpayers to explain the differences between the ITC claimed in GSTR-3B and the ITC available in …
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