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excess itc claimed

ITC / Input 382 views 3 replies
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asst accountant
58 Points Posted on 28 June 2018
we have claimed excess itc ...what to do. now please suggest ....how to do itc reversal
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On 28 June 2018 at 09:51 Report
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CA Final & CS Final
577 Points Posted on 28 June 2018

You will have to add the excess ITC claimed to your output liability in the next return and pay interest @ 24% on such excess amount by cash.

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On 28 June 2018 at 10:46
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24196 Points Posted on 28 June 2018
You ll reverse the excess INPUT Claimed in GSTR 3B "4.Eligible ITC - (B) ITC reversed  (2). Others. 
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On 28 June 2018 at 17:56
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96 Points Posted on 30 June 2018
if we did not utilised ITC still need to pay interest on it
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On 30 June 2018 at 10:26


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