Hi Experts
We have taken Excess ITC in June 2022 for 1,00,000 however we have reversed the said amount in January 2023 while filing GSTR 3B
Now I am filing GSTR 3B for February 2023
I have expected that the interest on Excess itc will be auto calculated and added in the portal
However there is no such interest
Could some one please advise can I go without paying interest as given in the portal
Thanks in advance
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Interest on Excess ITC not charged in Portal
Replies (2)
It's better deposit interest voluntary & file DRC 03 .
No portal is not calculating such interest but you can edit and show interest in GSTR-3B and remit the tax along with interest.
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