17 September 2020
Dear Sirs, I have taken input tax credit of cgst and sgst of rs. 9225/- in the month of april-19.Now how shall i revert the same in GSTR3B. If I revered the same how much interest i have to pay. Please give your valuable advise as i have to file gstr3b by 20th of this month.Thanks in advance, K.B.Nagesha Rao 9448826793
17 September 2020
Yes,You can reverse it in August GSTR3B. You do not need to pay interest if you did not utilise this credit.But if you have utilised then you have to pay 18% interest from the date of utilisation to 20th september,2020.
CAclubindia
