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excess input tax claimed in gst return
Excess input tax claimed in gst return now I want to reverse excess input and what rate of interest is there and how to calculate that please explain me sir
Replies (9)
Rate of Interest @ 24%
How to calculate that cgst and sgst
For ex;
If You are claimed Rs. 1000 on July-18 month return and You ll pay interest today then calculate as following way...
Interest @ 24% = 1000 * 24% / 365 * 27(No of delayed/Claimed days)
If You are claimed Rs. 1000 on July-18 month return and You ll pay interest today then calculate as following way...
Interest @ 24% = 1000 * 24% / 365 * 27(No of delayed/Claimed days)
You should reverse the excess ITC claimed in Next GSTR3B return.
Also pay interest as told by Raja sir.
Also pay interest as told by Raja sir.
Kk thank you sir
u r welcome.. .. ...
Good explanation sir
Thank You Mr Vinod Babu...
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