Dear Experts,
Is there any time limit for reversal of itc on car purchase which is done in the financial year 2021-22 june month. can i reverse it in Jun 22, 3B return.
please suggest.
thanks & regards
B Ganesh
Yes, you can reverse along with 24% Interest from the date of utilization.
You can reverse either through GSTR-3B or DRC-03. DRC-03 is a better option
Rate of interest will be 18% if you have utilized such ITC
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
Shaswat initial support private limited
Ahmedabad
CS
View Details
CAclubindia
