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Intrest
which intrest is applicable for wrong claim of ITC
Replies (12)
Quick Summary
Interest only applicable if such ITC is utilised
Https://play.google.com/store/apps/details?id=com.si.gstcalculator
If you have claimed and utilised the ITC then interest will be applicable @ 24% p.a.
Thankyou
The rate of interest is 18%
Interest rate is 24 ℅
It has been reduced to 18%
Please give me notification no
There is no amendment notification. It has been directly changed in the notification
Check Finance Bill, 2022 for the amendment in the notification.
@ Mohit Lodhi
Very good Mohit.....the finance bill was later passed as Finance Act. The parliament took the powers to amend the notification via the act itself and therefore the original notification was itself amended without an amendment notification....
After notice pay for 24% before notice ahead of pay for 18%
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