I have claimed excess ITC in following months in 3B through ALL OTHER ITC
May ₹1433
Jan ₹778.92
Total ₹2211.92
ITC is utilised in same month.
I need to put this amount in 3B 4(B)(2)
But how to calculate interest @ 24%
For May is it ₹1433 * (9month*2)%
and Jan ₹778.92 * (1month*2)%
Interest calculation as :
= Amount (wrongly claimed ITC) * Interest % * 365 days / No of days...
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
