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excess credit considred in 3b

ITC / Input 286 views 5 replies
In Gstr3b excess credit considered instead of 100 Rs 1000 considered 3b also failed how to rectifiy.
Replies (5)
you have to reverse this ITC in next month i.e. 900 in table 4B with 24% interest
i have balance cgst and sgst 5000 each account still i have to pay interest this is releated to july 19
By act you are required to pay. if you take different position then you can rely on Ind-swift laboratories and Maruti udyog case laws of punjab high court which can help for defending the position.

No need to pay interest. In addition to the decisions mentioned by Mr. Uttam, you can take the support of the recent judgment of Hon'ble Patna High Court in the matter of M/s Commercial Steel Engineering Vs State of Bihar. In this judgment, High Court specifically covered Section 50 of the CGST Act and your case is squarely covered by it. 

 

Thanks for reply


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