alleryStart learning →On cancellation, the person pays credit on stock or output tax, whichever is?
AThe higher of the two
BThe lower of the two
CThe average of the two
DFixed at 18 percent
Answer & Solution
Correct answer: A. The higher of the two
Section 29(5) fixes the payment at the input tax credit on stock and capital goods or the output tax on them, whichever is higher.
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