mistankly i claimed excess ITC in aug-17, Amount 1,72,112.12rs.
what i shoud do.?? should i file DRC-03??
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voluntary payment
Replies (2)
Reverse in March Month 3b with interest of 24% or reverse at the time of annual return but that time you have to reverse by paying tax in cash
In annual return , yes you can report the reversal of same but in Annual Return any such reversal of ITC do not computed & no liability will be generated therein .
Hence reverse it your 3b of March 19.
Hence reverse it your 3b of March 19.
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