sona1 (MANAGER) (365 Points)
26 August 202411/01/2024 our bank deducted Rs. 20000 +3600(GST) =Rs. 23600 for Bank Charge Purpose and after that we haven taken to our GSTR 3B JAN,24 Return Rs. 3600.00 INPUT purpose.
Dated 01/08/2024 bank refund this above amount with GST {i.e. 20000+3600(GST)=23600.00} which they deducted from us mistakenly dated 11/01/24
Now Our question is
(1) For the month of AUG,24 GSTR3B return we will reverse this GST Amount for Rs. 3600.00 ?
(2) Interest will be charged for this GST amount reverse propose?
prasad Nilugal
( GST Practitioner & Accounts )
(14692 Points)
Replied 26 August 2024
1) yes , you have to reverse Input tax credit wrongly taken .
2) Interest applicable .
3) Also you have to report this transaction in table 12 of GSTR9 , Annual return F.Y 23-24 .
Take more opnion on this .
sona1
(MANAGER)
(365 Points)
Replied 26 August 2024
Interest rate applicable 18 % or 24%?............................
prasad Nilugal
( GST Practitioner & Accounts )
(14692 Points)
Replied 26 August 2024
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 29 August 2024
@ Sona1,
1. Yes, You reverse the GST amount.
2. Yes, Interest applicable.
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