GST 3b wrongly filed by us,exess input credit filled by us last 2 months.
What can I do.
6 Replies
rajan
(sr. accountant)
(72 Points)
Replied 23 August 2020
Just reverse that ITC in next month GSTR3B and pay intt @ 24% on excess itc claimed
rajan
(sr. accountant)
(72 Points)
Replied 27 August 2020
Read sub section 3 of section 50 of cgst act intt rate is 24% if excess itc is claimed
Govind
(Manger)
(98 Points)
Replied 07 July 2021
INPUT VAT CLAIMED BY US FOR THE ASSESSMENT YEAR 2016-17 APPROX 2.5 LAC AND ASSESSING AUTHORITY PASSED THIS ITC IN ASSESSMENT ORDER. 2016-2017 BUT NEXT YEAR 2017-18 WE HAVE NOT FILED TRANS 1, IN THIS MATTER THE ASSESSING AUTHORITY REJECTED INPUT VAT 2.50 LAC ,
WHAT CAN I DO DO IN THIS MATTER,
TRANS 1 NOT FILED.
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