Interest on Reversal of Input Tax Credit
This query is : Resolved
07 April 2021
Sir/Madam
A private limited Company has availed ITC in the month of Jan 2021 GSTR-3B. Now supplier has provided a credit note against the Invoice in March 2021. Interest at what rate is to be calculated at time of reversal of ITC.
Please guide.
A private limited Company has availed ITC in the month of Jan 2021 GSTR-3B. Now supplier has provided a credit note against the Invoice in March 2021. Interest at what rate is to be calculated at time of reversal of ITC.
Please guide.
08 April 2021
No interest applicable as credit note issued in March, consider it in March return.
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