IN NOVEMBER MONTH 1040 IGST ITC TAKEN BY MISTAKE NOW MARCH MONTH NO ANY IGST ITC
SO HOW TO REVERSE MY IGST ITC.
Menu
ITC NEGATIVE
Replies (4)
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.
In month of march you have to pay with interest
Thank u very much for answer
Your are most welcome
Recent Topic
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
Related Topics
CAclubindia
