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Regarding ITC reversal
sir ,claimed excess ITC by mistake and utilized in 18-19, now I got notice from dept, now I have sufficient ITC to reverse the same, but the officials say pay cash by DRC -03.is there any rule that, please suggest me
Replies (6)
( now I have sufficient ITC. )
Now means when & which period...?
Now means when & which period...?
You hv to pay by DRC-03 along with interest @ 18% p.a.
GST can be reversed via DRC 03 from ITC also
Is it possible to claim excess ITC?
Yes....excess ITC mean u hv claimed more than what is eligible
Eligible or ineligible is not the quistion? Let the owner of the quistion to explain.
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