I have an invoice dated 31st may , 2018 for which i have already taken ITC in june return. And the same invoice was revised on 31st july in two parts . Please guide me how to show this invoice and in which return?
Rakesh Saini (14 Points)
24 September 2018I have an invoice dated 31st may , 2018 for which i have already taken ITC in june return. And the same invoice was revised on 31st july in two parts . Please guide me how to show this invoice and in which return?
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 24 September 2018
Reverse the ITC taken in June and claim the ITC of revised invoice. If ITC is reduced then pay interest @ 24% p.a. on the differential portion.
For example ITC claimed in June Rs. 100/-. Now this ITC figure is revised to Rs 80/-. Then pay interest on Rs. 20/- @ 24% p.a.
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