GST 3b wrongly filed by us,exess input credit filled by us last 2 months.
What can I do.
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GST R 3B wrongly filed
Replies (6)
Just reverse that ITC in next month GSTR3B and pay intt @ 24% on excess itc claimed
Interest @ 24%
Interest 24% p.a.
Interest 18% p.a.
Read sub section 3 of section 50 of cgst act intt rate is 24% if excess itc is claimed
INPUT VAT CLAIMED BY US FOR THE ASSESSMENT YEAR 2016-17 APPROX 2.5 LAC AND ASSESSING AUTHORITY PASSED THIS ITC IN ASSESSMENT ORDER. 2016-2017 BUT NEXT YEAR 2017-18 WE HAVE NOT FILED TRANS 1, IN THIS MATTER THE ASSESSING AUTHORITY REJECTED INPUT VAT 2.50 LAC ,
WHAT CAN I DO DO IN THIS MATTER,
TRANS 1 NOT FILED.
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