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Adjustment of ITC

ITC / Input 360 views 9 replies
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144 Points Posted on 06 August 2018

whether interest is to be paid when i have not filed the return on due time and if there is enough itc

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On 06 August 2018 at 19:44 Report
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3 Points Posted on 06 August 2018
No
interest will not be paid.
but you have to pay late filing fees
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On 06 August 2018 at 19:49
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144 Points Posted on 06 August 2018
but someone says that adjustment of itc is also a payment.
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On 06 August 2018 at 20:16
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"Do the Right Thing...!!!"
128152 Points Posted on 06 August 2018
Late Fee is applicable if You are not filed Your return On or before due date...


Interest applicable only for outstanding delayed payments...
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On 06 August 2018 at 20:38
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144 Points Posted on 06 August 2018
I had not filed return for last 6 month, i am teady to pay late fees. i want to know whether interest is to be paid in the output tax even if my input tax is greater then output tax in every month?
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On 06 August 2018 at 20:52
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"Do the Right Thing...!!!"
128152 Points Posted on 06 August 2018
No... If Your Input Tax is more than Output Tax then no need to pay Interest...

Note : The Details will be Calculate every month. Can't based on Consolidated...
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On 06 August 2018 at 21:08
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ARTICLE
144 Points Posted on 06 August 2018
whether any clarification is there for the same?
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On 06 August 2018 at 21:10
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"Do the Right Thing...!!!"
128152 Points Posted on 06 August 2018
No more clarification if You file correctly.
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On 06 August 2018 at 21:11
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Accountant
3479 Points Posted on 06 August 2018
Agree with Mr. Raja P M Sir, rightly suggested
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On 06 August 2018 at 23:12
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9 Points Posted on 06 August 2018
he has file return on regularly
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On 06 August 2018 at 23:29


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