Hello Experts. I have claimed excess Itc of last year of Rs. 25. Should i pay interest @ 24%? and how to create challan for the same?
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Regarding excess claimed of itc
Replies (2)
25Rs is a Minor amount you can ignore it..
if you want you can reverse it but no need to pay interest.
if you want you can reverse it but no need to pay interest.
As per section 50 CGST Act wrong claim of ITC interest is applicable @ 24%
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