How to calculate interest for ITC Reversed

Anuraag Agrawal (21 Points)

16 March 2024  

I have claimed excess ITC in following months in 3B through ALL OTHER ITC

May ₹1433

Jan ₹778.92

Total ₹2211.92

ITC is utilised in same month.

I need to put this amount in 3B 4(B)(2)

But how to calculate interest @ 24%

For May is it ₹1433 * (9month*2)%

and Jan ₹778.92 * (1month*2)%