Menu
Is interest payable in ITC mismatch
If any RTP has ITC mismatch in GSTR-3B vs GSTR-2A and after detection by dept pays the excess ITC taken by debiting his credit ledger, is he liable to pay interest on that as he has not paid the dues in cash.
Replies (3)
Yes, has to pay Interest.
Interest is payable on net liability since he paid the amount through credit ledger and did not paid any amount in cash.so he is not liable to pay interest
In my knowledge payment of interest on cash portion shall be only on the liability arises on account of return furnished after the due date in accordance with the provisions of section 39.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
