Wrong credit
This query is : Resolved
28 August 2018
had wrongly taken credit of an amount in the month of october, now i want to pay it along with interest and rectify it, how to do it? and how much interest to pay?
CA PRAVEEN
(Expert)
28 August 2018
If GST is not paid within the due dates of filing return Interest at following rates has to be paid:
Particulars Interest
Tax paid after due date 18% p.a.
Excess ITC Claimed or excess reduction in Output Tax 24% p.a.
Particulars Interest
Tax paid after due date 18% p.a.
Excess ITC Claimed or excess reduction in Output Tax 24% p.a.
30 August 2018
THANK YOU SIR FOR LETTING ME KNOW THE INTEREST RATE APPLICABLE BUT WHAT PROCEDURE TO BE FOLLOWED ISN'T ANSWERED?
CA PRAVEEN
(Expert)
30 August 2018
Reverse wrongly ITC taken in GRTR-3B of next month.
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