hi all,
I had wrongly claimed excess itc but till date I had not utilised same. if I am reversing same then I have to pay interest on that? or there will be no interest because I had not used?
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Excess claim of itc
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Any interest paid earlier on excess claim of ITC will be refunded by crediting the amount to the recipient's Electronic Cash Ledger. In case of duplication of ITC claim, no refund will be allowed as it is a contravention of the GST provisions.
No need pay interest for this case. if u claim the ITC need pay interest.
I had claimed but not used same amount is there in my ledger
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