banner_ad

Itc claim difference short fall vs excess claim

This query is : Open 
Profile Image

Profile Image

(Querist)
04 June 2022 Sir,
A Gst registered dealer itc claim details mentioned show as per gst portal in f.y.21-22
Some months itc claim short falls rs: 28765/-
Some months itc claim excess rs:34567/-
Question:
Dealer itc excess vs itc short fall difference amount tax and interest and penalty applicable in gst act.
Profile Image

CA Altamush Zafar

Profile Image

CA Altamush Zafar (Expert)
05 June 2022 Reverse the excess ITC. If such ITC has already been utilised then interest will be payable @ 18% otherwise no interest will be payable
Profile Image

CA Rashmi Gandhi

Profile Image

CA Rashmi Gandhi (Expert)
05 June 2022 In case of shortfall, you can claim such ITC till due date for filing of Sept 2022 return. In case you claim excess ITC, reverse it in next month return and interest will be payable only if you utilise such amount to pay your liability
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details