26 July 2018
We have taken excess IGST credit for the month July 2017 and reverse the same on June 2018 . We have not utilised the IGST excess credit till date. Should we pay interest on the excess credit taken not utilised?
28 July 2018
As per your question you have accrue excess ITC but not utilized from out put liability, after that u reverse excess ITC accrue. For no that no interest or penalty will be charged.
CAclubindia
