Dear team Due to clerical error forget to reverse the ITC in month of April 22 but from June 22 I have paid the tax continuously and recently I received the notice from GST department. my question is that I have to pay interest till today or only for 3months along with amt which I have to reverse.
Pls advise
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GST ITC april 22
Replies (1)
Interest is applicable only for the period of actual utilization (approx. 2–3 months until paid/reversed in June 2022) at 18% per annum, not up to today, provided the ledger balance or tax payments neutralized the wrong credit from June 2022 onwards.
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