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Interest Computation on GST input reversal...

ITC / Input 271 views 5 replies
Kindly clarify...
We have claimed some GST input in the past. Now we are reversing the same. Should I compute Interest on reversal on GST input on cumulative basis month on month based on what was excess or short claimed or on flat on amount of GST input reversed...
Replies (5)
month wise........ @ 24% p.a...
18% interest rate is applicable
18% interest should be paid while reversal and it should be calculated month on month basis considering the excess days from due date.
according to me 24%

Now I got a doubt....

Actually how much it is ???????

24% or 18% ????

 


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