IF I HAVE CLAIMED WRONG CREDIT AND HAVE PARTLY UTILISED THE SAME
NOW AT TIME OF REVERSAL I NEED TO PAY INTEREST @ 24 PERCENT ON ENTIRE AMOUNT OR THE AMOUNT I HAVE UTILISED??
EG
WRONG CREDIT CLAIMED 24000/-
UTILISED 10,000/-
TAX ON ONLY 10,000 OR ENTIRE 24,000/-
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GST INTEREST QUERY
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You have to pay interest @ 24% on excess ITC claimed...
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