Sir, due to some clerical mistake for the month of August 2018. We have claim excess ITC . now please advise can we reverse in current month,s return.
can we need to pay extra charge.
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Excess ITC
Replies (4)
no you need not pay any charges you can set off the credit amount in upcoming months last till the GSTR 3B of SEP. 2019 is filed by u.
Thank you Sir,
Yes can reverse in current 3b & has to deposit interest @ 24%
Reverse the ITC in the following month 3B, along with self assessed interest calculated @ 24% from the say 21st September (one day succeeding the due date of the tax period month) till say 20th August, 2019 (date of reversal).
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