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ITC Gstr 2b
We claim ITC more than Gstr2b, what to do now
Replies (5)
Quick Summary
No, You Can't claim excess ITC than GSTR2B.
We already claimed,is there any penalty for that
If the basis of the availing credit, the invoices which has been already filed by vendors and disclosed in your previous GSTR 2Bs, then no problem, else you have to pay interest if the availed Input credit has been utilized.
Reverse the same in your subsequent Return.
As per Rule 88B r/w Section 50, if it is utilized then Interest @ 18% need to be deposited.
As per Rule 88B r/w Section 50, if it is utilized then Interest @ 18% need to be deposited.
Isn't interest rate on undue ITC claimed and utilized 24%?
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