Gst input credit reversal

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2018 Dear sir,

We have wrongly taken input credit month of Dec'2017, after all clarifications this month we have decided to reversal the input so how much rate of interest and which date i have to take to calculate the interest i.e Supplier invoice date or GST filled date.

RAJA P M

RAJA P M (Expert)

11 September 2018 Rate of Interest @ 24%

Calculate from the date of availed the Input (Based on the Moth)

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2018 Thank You sir, Based on the month means can u explain with example.

RAJA P M

RAJA P M (Expert)

11 September 2018 If You are wrongly availed on Dec-17. The return date is 20/01/2018 then You will calculate from 21/01/2018 to Till date or next return which you are reversed...

Also note if any liability on Dec-17 then pay with Interest...

Querist : Anonymous

Querist : Anonymous (Querist)

11 September 2018 okay, thank you sir.

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