Input declaration done wrongly..
This query is : Resolved
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Shankar Rao
(Querist)
24 March 2020
Dear sir,
Month of Feb'2020 GSTR-3B Return we have declared input wrongly.Actually we have to pay amount under CGST/SGST, payment also made on 20.03.2020 due to input declaration wrong setoff done via credit ledgers CGST/SGST , now we have excess credit in ledger and current ledger also showing our payment.
In this connection can we reverse excess credit for next month?
can we liable interest on wrong declaration of Input? if liable howmuch percentage and from which date i have to take for calculation.
Month of Feb'2020 GSTR-3B Return we have declared input wrongly.Actually we have to pay amount under CGST/SGST, payment also made on 20.03.2020 due to input declaration wrong setoff done via credit ledgers CGST/SGST , now we have excess credit in ledger and current ledger also showing our payment.
In this connection can we reverse excess credit for next month?
can we liable interest on wrong declaration of Input? if liable howmuch percentage and from which date i have to take for calculation.
CA R SEETHARAMAN
(Expert)
24 March 2020
Pay 24% interest from 21st February.
Shankar Rao
(Querist)
26 March 2020
sir, interest on utilized credit or total wrongly mentioned credit?
CA R SEETHARAMAN
(Expert)
26 March 2020
Utilised credit only........
Shankar Rao
(Querist)
26 March 2020
thanks sir, our management asking if any G.O or Notification is there if it is available please share sir.
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