GST R 3B wrongly filed

This discussion addresses two key GST issues. Firstly, it covers how to correct wrongly filed GSTR-3B returns where excess input tax credit (ITC) was claimed in previous months. The advice suggests reversing the excess ITC in the next GSTR-3B and paying interest at 24% per annum on the wrongly claimed amount. Secondly, it tackles a situation where input VAT for 2016-17 was allowed by the assessing authority but later rejected because Trans 1 was not filed for the subsequent year 2017-18, seeking guidance on how to proceed.