mistakly wrongly shown input igst amount in 3b return in the month of August. I came know this mistake today can I reserve it in the 3b return filing period in the month of may.
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Wrong 3b return
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| Originally posted by : Tejpal Jain | ||
 |
mistakly wrongly shown input igst amount in 3b return in the month of August. I came know this mistake today can I reserve it in the 3b return filing period in the month of may. |  |
First Pay Interest @ 24 % p.a on the wrongly ITC Amt claimed in GSTR-3B
According to me, You reduced such Amt. i.e. wrongly ITC has taken from May ITC.
And Make Working for Future Reference.
If You are availed / set off the wrongly entetered IGST ITC then You can pay interest @ 24#.
If You are not set off / adjust then You don't want pay any interest for the wrongly entetered Tax. Just go with reverse...
If You are not set off / adjust then You don't want pay any interest for the wrongly entetered Tax. Just go with reverse...
.
@ Nikhil.,
Debit note...?!!
Debit note...?!!
Yes reverse ITC in your next returns.
As per my understanding you have availed excess IGST credit. my question is was that credit supposed to be reported as CGST SGST credit? anyway interest would be attracted @ 24 percent in the above mentioned case as you have wrongly availed IGST credit and reduce the credit with the same amount while filing GSTR3B for the month of May.
Yes interest would be attracted for wrongly availed igst.
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