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Itc

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(Querist)
28 May 2018 I HAVE TAKEN MORE ITC THAT IS INPUT CREDIT IN THE MONTH OF JANUARY. HOW CAN I RECTIFY IT IN THE MONTH OF MAY.
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CA Suresh Jain

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CA Suresh Jain (Expert)
28 May 2018 Reverse the iTC in current month's return, you shall be required to pay interest also
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Vishakha Kejriwal.

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Vishakha Kejriwal. (Expert)
29 May 2018 Interest would be applicable only in case you have utilized such excess credit towards payment of the GST liability.
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