One Registered taxpayer have claimed ITC for FY 2018-19 but failed to pay for the same within 180 days of issue of invoice to the supplier. He also not reversed the said ITC in form GSTR 3B. But Subsequently after around 300 days of issue of invoice he paid full amount along with tax to the supplier. Now during inspection GST Department noted this and sent notice for Reversal of Full ITC with interest for Non Payment within 180 Days.
Now My question is do the taxpayer need to reverse the entire ITC along with interest now or only he is supposed to pay the interest for 300 days of delay ?
CAclubindia
