Reverse of wrong availed input


This query is : Resolved 

Quick Summary
A taxpayer wrongly availed input tax credit in February 2019 and reversed it in February 2020 via GSTR-3B. They inquired about any time limit for this reversal and if interest is applicable, especially since their credit ledger had a full balance and their payable amount was nil before the reversal. The advice provided confirms there is no time limit for such reversals and no interest is payable in this scenario.

(Querist)
29 October 2020 dear sir, i have availed some wrong input in 2018-2019 feb. and reverse the same in 2019-2020 feb. through gstr-3b.is their any time limit for reversal of input?i have already full balance in my credit ledger and payable is nil till reverse of input .is still int. payable?
with thanks

29 October 2020 No interest payable in such a case.
No time limit.


jaigurudev (Querist)
29 October 2020 thankssssssssssssss for your advice


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