Dear Experts,
Kindly advise on Interest to be paid on ITC reversal in 180 days.
If we are reverse the ITC after non payment in 180 days we have to pay any penalty or interest on it or not.
kindly advise if any notification issue as well.
Menu
Interest on ITC reversal in 180 days
Replies (2)
Quick Summary
18% interest from the date of ITC claimed
In term of Section 50 of CGST Act Interest is applicable @ 18%
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
