IN NOVEMBER MONTH 1040 IGST ITC TAKEN BY MISTAKE NOW MARCH MONTH NO ANY IGST ITC
SO HOW TO REVERSE MY IGST ITC.
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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
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