Provisions under Section 21 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Manner of Recovery of Credit (ITC) Distributed in Excess”, are as under:
Section 21 of CGST Act 2017: Manner of Recovery of Credit Distributed in Excess (CHAPTER V – INPUT TAX CREDIT)
Where the Input Service Distributor distributes the credit in contravention of the provisions contained in section 20 resulting in excess distribution of credit to one or more recipients of credit, the excess credit so distributed shall be recovered from such recipients along with interest, and the provisions of section 73 or section 74, as the case may be, shall, mutatis mutandis, apply for determination of amount to be recovered.
1. CBEC notifies 01/07/2017 as the Commencement date for Section 21 of the CGST Act 2017, vide Central Tax Notification 9/2017 dt. 28/06/2017.
Note: The CGST Act, 2017 has been notified vide GOI Notification dt. 12/04/2017, which has subsequently been amended through CGST (Extension to J&K) Act 2017, Finance Act 2018, CGST Amendment Act 2018, Finance (No. 2) Act 2019, Finance Act 2020, Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance 2020, Finance Act 2021, including various Notifications issued by the Govt./ CBIC from time to time, relating to the commencement dates of various Sections/ Provisions in the respective CGST/ Amendment Acts, wherever required. Information on this page is a Section-wise compilation of Amendments made by all such Notifications, with best possible efforts for accuracy. In any case, E&OE. For official/ updated information, please visit CBIC website.
|CBIC Updates (GST)|
|GST Circulars, Notifications, Press Releases, Orders, etc. issued by the Central Board of Indirect Taxes & Customs (CBIC) in different years, along with Section-wise/ Rule-wise Text of GST Acts/ Rules:|
|CGST: CGST Act/ Definitions, CGST Rules, GST Forms|
|IGST: IGST Act/ Definitions, IGST Rules|
|UTGST: UTGST Act/ Definitions, UTGST Rules|
|CBIC Circulars (CGST/ IGST/ UTGST): 2021, 2020, 2019, 2018, 2017|
|CBIC Central Tax (CGST) Notifications: 2021, 2020, 2019, 2018, 2017|
|CBIC Central Tax Rate (CGST Rate) Notifications: 2021, 2020, 2019, 2018, 2017|
|CBIC Integrated Tax (IGST) Notifications: 2020, 2019, 2018, 2017|
|CBIC Integrated Tax Rate (IGST Rate) Notifications: 2020, 2019, 2018, 2017|
|CBIC UT Tax (UTGST) Notifications: 2020, 2019, 2018, 2017|
|CBIC UT Tax Rate (UTGST Rate) Notifications: 2020, 2019, 2018, 2017|
|CBIC Compensation Cess Notifications: 2020, 2019, 2018, 2017|
|CBIC Compensation Cess Rate Notifications: 2020, 2019, 2018, 2017|
|CBIC Orders (CGST/ IGST/ UTGST): 2020, 2019, 2018, 2017|
|CBIC Press Releases: 2020, 2019, 2018, 2017|
|Note: For Official/ updated copy, please visit the CBIC website.|