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Reversal Of TRAN-1 credit
Can we reverse Tran-1 credit through filing DRC-03
Replies (4)
gst portal does not allow for making partial payments against a liability declared voluntarily. The payment has to be made with reference to amount being demanded or already demanded in Show cause notice...
yes you can.
it is a voluntarily payment but you have to pay with interest as applicable.
it is a voluntarily payment but you have to pay with interest as applicable.
How to calculate interest and for what period
With 18% of interest pa from the date of availment of that credit.
If your credit was reflected in your credit ledger in the month of Dec-17, then interest should be calculated from Dec-17
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