Interest 24% or 18%

Please tell whether 50(3) is applicable which provides 24% on reversal of ITC or 18%p.a is applicable for GSTR 9 for ITC reversal.
Replies (2)
Quick Summary
This discussion clarifies the applicable interest rate for reversing Input Tax Credit (ITC) on GSTR 9. It questions whether Section 50(3) mandates a 24% interest rate or if the standard 18% per annum applies when excess ITC has been utilised in GSTR-3B compared to GSTR-2A. The core issue is determining the correct interest calculation for such reversals.

What is the reason for Reversal of ITC ???
Excess ITC utilised in 3B than 2A

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details