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wrongly take credit

ITC / Input 207 views 3 replies
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96 Points Posted on 29 June 2018
My client took wrongly ITC bt not utilised n he will reverse credit bt question is should he need to pay interest on it bz he didn't use it ????
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On 29 June 2018 at 23:14 Report
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Practice
3235 Points Posted on 29 June 2018
if it is not utilized means not set off with output tax which means by reversing the same no tax payable that means no interest will levy..
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On 29 June 2018 at 23:19
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"Do the Right Thing...!!!"
128152 Points Posted on 30 June 2018
If the wrongly entetered ITC is not utilize then You can reverse the ITC without paying interest.
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On 30 June 2018 at 07:01
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96 Points Posted on 30 June 2018
some people saying Under GST interest is payable if ITC is availed and nothing to do whether utilised or not.
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On 30 June 2018 at 10:19


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