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Wrong credit

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(Querist)
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?
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CA PRAVEEN

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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.
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RAJA P M

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RAJA P M (Expert)
28 August 2018 Interest rate @ 24% for wrongly taken ITC.



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Namit

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Namit (Querist)
30 August 2018 THANK YOU SIR FOR LETTING ME KNOW THE INTEREST RATE APPLICABLE BUT WHAT PROCEDURE TO BE FOLLOWED ISN'T ANSWERED?
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CA PRAVEEN

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CA PRAVEEN (Expert)
30 August 2018 Reverse wrongly ITC taken in GRTR-3B of next month.

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