alleryStart learning →Under Section 17(4), a bank may avail what share of ITC monthly?
A25 per cent, balance carried
B75 per cent, balance refunded
C100 per cent, with a cap
D50 per cent, rest lapses
Answer & Solution
Correct answer: D. 50 per cent, rest lapses
Under Section 17(4), a banking company or financial institution may avail fifty per cent of eligible credit each month and the rest lapses.
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