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Wrong credit taken

ITC / Input 331 views 4 replies

Vivek soni

Student

122 Points Posted on 17 March 2018

What if a person had taken excess credit by mistake in the month of january. What to do now?

Replies (4)

achuth menon

274 Points Posted on 17 March 2018

issue debit note in the return of the month the defect was identified and reverse the credit and pay interest as per section 50 from the 21st of january till the return for the relevant month the defect is identified and filed

Pankaj Rawat

GST Practitioner

55067 Points Posted on 17 March 2018

Rate of intt. is 24% in case excess ITC wrongly avail

lokhande mahadev

99 Points Posted on 17 March 2018

You can modified in return gstr-3

it is only gstr-3b

Vivek soni

Student

122 Points Posted on 18 March 2018

Thank you all for your valuable suggestions

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