Applicability of Rule 42 in case of NBFC, Goods and Services Tax - GST

[CASUNIL BHANSALI]

Under the scenario where an NBFC has engaged in the sale of securities and opted for ITC reversal as per Rule 38, is it obligated to made reversal as per Rule 42 also ?

Posts / Replies

[Shilpi Jain]

Once 38 is followed, rule 42 would not apply.