IN NOVEMBER MONTH 1040 IGST ITC TAKEN BY MISTAKE NOW MARCH MONTH NO ANY IGST ITC
SO HOW TO REVERSE MY IGST ITC.
4 Replies
David
(article Assistant)
(1644 Points)
Replied 18 June 2020
Hlo Kamlesh.,you have to pay the amount 1040 along with interest. If the ITC is taken from exempt supplies/ supplied used for personal use, it is to be shown in 4(B)(1) and if it is for others, shown in 4(B)(2) in GSTR 3B. You can calculate interest at 18% p.a as it is not willfull mistake. Otherwise interest will be 24%p.a.
Recent Topics
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
CA Deepak Gupta15 July 2025
CAclubindia
