Itc
This query is : Resolved
sumaira bhat
(Querist)
28 May 2018
I HAVE TAKEN MORE ITC THAT IS INPUT CREDIT IN THE MONTH OF JANUARY. HOW CAN I RECTIFY IT IN THE MONTH OF MAY.
CA Suresh Jain
(Expert)
28 May 2018
Reverse the iTC in current month's return, you shall be required to pay interest also
Vishakha Kejriwal.
(Expert)
29 May 2018
Interest would be applicable only in case you have utilized such excess credit towards payment of the GST liability.
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