GST interest rate on excess claimed GST Input
This query is : Resolved
30 May 2022
Whether interest is payable if duplicate/excess ITC taken or inelgible GST Input taken & subsequently reversed voluntary? If so, what is the percentage?
30 May 2022
24% interest applicable.
30 May 2022
24% interest u/s 50(3) of GST act .
02 June 2022
Interest rate is now changed to 18%
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