Wrong tran 1 claimed how to reverse or pay back using drc 03 and what is Overall tax periid

naresh (accountancy) (47 Points)

11 September 2020  

I claimed excess credit in tran 1 now i want to pay back excess credit using drc 03 under which section should i pay and what will be my overall tax period and tax period month in drc 03 is Intrest payable if yes for what period for wrong excess tran 1 credit utilised . From july 17 or from the datei utilised or taken tran 1 credit . Is intrest calculated on flat rat system or compounding rate system