GST ITC interest

RAVINDRA POLANKI (Student CA Final/Tax consultant/) (51 Points)

21 October 2020

undue or excess claim of ITC will be charged at 24/% interest. Undue ITC means??????

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CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 21 October 2020

Undue ITC means Without tax invoice or when no tax invoice is available with you.

CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 21 October 2020

Invoice for Oct claimed in sept will also be covered in undue ITC

RAVINDRA POLANKI (Student CA Final/Tax consultant/) (51 Points)
Replied 21 October 2020

Thank you

CA. Heet Shah (Tax Consultant & Practitioner) (6180 Points)
Replied 21 October 2020

Most welcome keep asking it refreshes the basics

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 21 October 2020

Wrongly claimed , not eligible to avail , block u/s 17(5)

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