13 March 2019
I have claimed a total of 75k excess input credit in the year F.Y 2018-19, due to non receipt of Credit Notes from suppliers. I have Unutilized input credit of around 2.5 Lac into my GST Portal in the whole year. Am I still be liable to pay interest if I reverses the excess credit in the February return?
Or can I simply reverse the excess input without paying interest on it?
CAclubindia
