Reversel of input tax credit.

This query is : Resolved

k.b.nagesharao

k.b.nagesharao (Querist)
Follow

17 September 2020 Dear Sirs,
I have taken input tax credit of cgst and sgst of rs. 9225/- in the month of april-19.Now how shall i revert the same in GSTR3B.
If I revered the same how much interest i have to pay. Please give your valuable advise as i have to file gstr3b by 20th of this month.Thanks in advance,
K.B.Nagesha Rao
9448826793

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 September 2020 Reverse and pay 18% interest.

Lekhraj sood

Lekhraj sood (Expert)
Follow

17 September 2020 Yes,You can reverse it in August GSTR3B. You do not need to pay interest if you did not utilise this credit.But if you have utilised then you have to pay 18% interest from the date of utilisation to 20th september,2020.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

Pritanu Chakraborty

Michael & Co.

Ashif Cheenikkal

Mukesh Singh

Subscribe Now

Reversel of input tax credit.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA