If we have claim itc in September 17 month dubel purchase entry enter reasons and after reco. I found and sep 18 GSTR month returns I will this tax reverse itc and paid 24% interest. But September 18 month our gstr3B show tax credit instead liabilities so I would adjust previous reversal itc payable this month itc credit
I am right I will be paid only interest.... Please confirm...
Even though its excess credit in your 3b of sept-18 , Deduct the wrongly claim ITC from sept 18 & show the Net ITC in your 3B .
Deposit the Interest @ 24% and setoff the same by showing it in table 5 of your 3b.
CAclubindia
