Excess credit taken in gstr - 3b ...reg: penalty or interest

sujit naha (accountant) (346 Points)

18 February 2018  

Due to Oversight We have Taken Excess  ITC in GSTR - 3B for DEC and it is also already Reflected in Electronic Credit Ledger...

But We Could Not Utilized the Said Excess ITC which is lying as same amount..----

Now We are going to Reverse the said Excess ITC Amount in  FEB -GSTR-3B ---

Question: This Mistake is Punishable ???   OR  any Penalty / Interest will be Imposed on Us ???

Please give advice