IF A REGISTERED PERSON FILES HIS RETURN SHOWING HIS INPUT TAX CREDIT TWICE (GSTR 3B ) SUBSEQUENTLY THE REGISTERED PERSON FINDS OUT THE DUPLICATION , WHAT WILL BE THE CONSEQUENCES UNDER GST ACT HE HAVE TO PAY INTEREST FOR THE EXCESS CREDIT CLAIMED(BUT NOT UTILIZED) IN HIS RETURN. IF INTEREST IS PAYABLE AT WHICH PERCENT - 24% OR 18% AND FROM WHICH DATE HE HAVE TO CALCULATE THE INTEREST.
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INTEREST ON GST TAKEN TWICE BY MISTAKE
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In case of Interest taken twice or wrong then it should be added to output tax liability with 18% interest and it should be from when the taken into gstr3b to actually paid
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