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EXCESS OUTPUT AND ITC

ITC / Input 532 views 23 replies
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hr
55 Points Posted on 24 January 2020
i claimed excess output and excess. itc in march 3B (17/18).i did not reverse itc or output further what to do now ???
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On 24 January 2020 at 17:43 Report
Replies (23)
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Studwnt
1141 Points Posted on 24 January 2020
Pay the excess claim of ITC along with interest @ 24%
14 Reply
On 24 January 2020 at 17:52
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hr
55 Points Posted on 24 January 2020
And what about exess output
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On 24 January 2020 at 17:53
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Studwnt
1141 Points Posted on 24 January 2020
That you can claim refund
14 Reply
On 24 January 2020 at 17:56
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hr
55 Points Posted on 24 January 2020
In which form
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On 24 January 2020 at 17:57
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Studwnt
1141 Points Posted on 24 January 2020
You need to amend the returns in which you claimed excess output.
14 Reply
On 24 January 2020 at 18:01
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hr
55 Points Posted on 24 January 2020
Dear mam it is about 17-18.can we ammend the OUTPUT figure even now in 3B
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On 24 January 2020 at 18:04
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"Do the Right Thing...!!!"
128147 Points Posted on 24 January 2020
Originally posted by : vishal dwivedi
i claimed excess output and excess. itc in march 3B (17/18).i did not reverse itc or output further what to do now ???

 

Excess ITC & OUTPUT...??

Can You give details...?

463 Reply
On 24 January 2020 at 18:06
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hr
55 Points Posted on 24 January 2020
In march 3B i mistakenely filled the details from july 17 to march 18
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On 24 January 2020 at 18:07
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Studwnt
1141 Points Posted on 24 January 2020
I need to check upon that...and FYI interest rate can be 18% as well depending on the case
14 Reply
On 24 January 2020 at 18:09
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hr
55 Points Posted on 24 January 2020
The excess figure is
output-465637
input-533574
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On 24 January 2020 at 18:10
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"Do the Right Thing...!!!"
128147 Points Posted on 24 January 2020
Originally posted by : vishal dwivedi
In march 3B i mistakenely filled the details from july 17 to march 18

 

File GST Annual return with correct values as per Your Books/Transactions. Find out the Difference and Pay the Liability with Interest...

463 Reply
On 24 January 2020 at 18:11
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Studwnt
1141 Points Posted on 24 January 2020
For excess input under sec 50 Delayed payment of tax ..interest rate @ 24% gets attracted
14 Reply
On 24 January 2020 at 18:13
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hr
55 Points Posted on 24 January 2020
I filled the annual return with correct data as per book.what will be the liability to be paid via drc (excess output-excess itc )
or the whole itc i claimed ??
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On 24 January 2020 at 18:14
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Studwnt
1141 Points Posted on 24 January 2020
Excess ITC of 533574 and interest on such excess credit without set off ie. 533574*24%
14 Reply
On 24 January 2020 at 18:16


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