excess itc claimed
M RAJAMOGILI (asst accountant) (58 Points)
28 June 2018
we have claimed excess itc ...what to do. now please suggest ....how to do itc reversal
M RAJAMOGILI (asst accountant) (58 Points)
28 June 2018
Nihar Ranjan Rout
(CA Final & CS Final)
(577 Points)
Replied 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.
Vinod Babu
(24191 Points)
Replied 28 June 2018
Cma Mahesh Nakate
(96 Points)
Replied 30 June 2018
CAclubindia
