how do i reverse and is there any interest...?
if any interest come then in which %...?
If ITC is claimed the same has to be reversed. Reversal can be done through GSTR-3B or DRC-03. If ITC has not been used then there is no interest. If ITC was utilised then interest @ 18% is chargeable.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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