need the excel format for find out the interest figure on GST Reversal.
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180 DAYS ITC REVERSAL WITH INTEREST EXCEL UTILITY Read more at: https://www.caclubindia.com/forum/1
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To comply with the 180-day rule, you must reverse the proportionate ITC in your GSTR-3B for the month following the 180th day and pay interest at 18% per annum for the period from the date of ITC utilization until the date of reversal. You can re-claim this credit in your GSTR-3B once you clear the payment to the supplier.
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