Intrest in gst

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26 Points Posted on 02 April 2020
sir in sep month sales . it was a typing mistake in the place of 60000 i have entered 6000 in cess column . but in dec i have rectifiy my error should i pay intrest on difference amount even though i have excess itc in my credit ledger in gst portal please help me sir
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On 02 April 2020 at 02:27 Report
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Quick Summary
A user made a typing error in their September GST sales, entering £6,000 instead of £60,000 in the cess column. They corrected this in December but had excess Input Tax Credit (ITC) available. The user is asking if interest is still payable on the difference, despite having sufficient ITC to cover the tax liability.

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"Do the Right Thing...!!!"
128157 Points Posted on 02 April 2020
Ask Your query with correct details...

Is here the values are Sales (outwards) or Purchases (inwards)...?

Give correct details...!
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On 02 April 2020 at 09:06
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26 Points Posted on 02 April 2020
Sales out ward tax typing mistake wrongly entred sir but i have itc in my credit ledger
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On 02 April 2020 at 10:49
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Yes interest is payable
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On 04 April 2020 at 10:05
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26 Points Posted on 04 April 2020
But have excess itc in my credit ledger sir even though i filed with correct amount i will not get any tax liability
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On 04 April 2020 at 11:34

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