ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Excess claim of itc

umang gandhi (accountant) (30 Points)

20 October 2021  
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?

TIA

 3 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2919 Points)
Replied 20 October 2021

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.

1 Like

Purusothaman Raja (159 Points)
Replied 20 October 2021

No need pay interest for this case. if u claim the ITC need pay interest.
1 Like

umang gandhi (accountant) (30 Points)
Replied 20 October 2021

I had claimed but not used same amount is there in my ledger

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading



Subscribe to the latest topics :
Search Forum:

Trending Tags