GST interest for reversal ITC fy:17-18

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59 Points Posted on 29 May 2023
Dear Experts🙏.. Incorrect ITC 3B has been taken in August 2017. This ITC has been reversed in December 2018 month 3B. Now the GST officer is asking interest for intervening days. Do I have to pay this interest or not?
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On 29 May 2023 at 19:04 Report
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Quick Summary
A user incorrectly claimed Input Tax Credit (ITC) in August 2017 and reversed it in December 2018. The GST officer is now demanding interest for the period between these two dates. The consensus is that interest is indeed payable in such cases.

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Pivate
1492 Points Posted on 29 May 2023
Yes pay
1 Reply
On 29 May 2023 at 21:45
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GST Practitioner
55067 Points Posted on 03 June 2023
Yes you liable to pay Interest.
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On 03 June 2023 at 23:25

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