One of my client got excess ITC notice as he has filed late GSTR 3B Actually even he has excess ITC of more than 200000
but he has got notice of payment of 356017
please help me in this matter
4 Replies
Roshni
(Studwnt)
(1141 Points)
Replied 25 January 2020
Excess ITC need to be reversed and extra interest @ 18% has to. be paid
manoj
(student)
(5205 Points)
Replied 25 January 2020
there is no excess ITC He has balance of 206000 in electronic credit ledger
kapil
(accountant)
(178 Points)
Replied 25 January 2020
I also got this..but i dont think it will matter as by 31st jan all supplier will file their gstr1 and input will show in gstr2a..this is my opinion..and i ask experts what they say regarding this issue?
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