We received notice from the GST officer indicating that one of our creditors charged 28% GST on the bill instead of 18%, and we claimed a 28% Input Tax Credit (ITC) as it was the same as mentioned on the invoice and reflected in GSTR-2A. The payment was also made within 180 days. However, the officer now says that we are eligible for only an 18% GST ITC credit and that we need to reverse the 10% ITC credit with interest. Should we reverse the ITC or not ?
CAclubindia
