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EXCESS OUTPUT AND ITC
i claimed excess output and excess. itc in march 3B (17/18).i did not reverse itc or output further what to do now ???
Replies (23)
Pay the excess claim of ITC along with interest @ 24%
And what about exess output
That you can claim refund
In which form
You need to amend the returns in which you claimed excess output.
Dear mam it is about 17-18.can we ammend the OUTPUT figure even now in 3B
| 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...?
In march 3B i mistakenely filled the details from july 17 to march 18
I need to check upon that...and FYI interest rate can be 18% as well depending on the case
The excess figure is
output-465637
input-533574
output-465637
input-533574
| 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...
For excess input under sec 50 Delayed payment of tax ..interest rate @ 24% gets attracted
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 ??
or the whole itc i claimed ??
Excess ITC of 533574 and interest on such excess credit without set off ie. 533574*24%
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