i have taken excess itc in jan 2020 gstr3b rs. 39652 by mistake. can i reverse itc in next month gstr3b. what is the process for this. threre is no sale and purchases in feb 2020.
pls reply
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Wrong ITC claimed in january 2020 gstr3b
Replies (6)
Reverseable with interest...
Yes sir it can be reversed in the next month GSTR-3B irrespective of your sale or purchase. The wrong ITC claimed amount has to be shown under 'Others' part of ITC reversed under Eligible ITC
sir,
how much the interest amount on rs. 39652/-
2% monthly approx
@ Mr Shashank.,
Interest applicable @ 24%p.a...
Interest applicable @ 24%p.a...
I doubt whether int is leviable on reversal of itc
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