ineligible ITC utilised

ITC / Input 170 views 4 replies
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internal audit staff
53 Points Joined September 2017
what to do if ineligible ITC utilised and how much interest to be paid and for what amount (full ITC or utilised ITC)
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On 19 June 2019 at 18:44 Report
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Professional
1427 Points Joined August 2012

The availed ineligible ITC needs to be reversed with interest @ 24% p.a. from the utilisation date.

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On 19 June 2019 at 18:54
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internal audit staff
53 Points Joined September 2017
for which amount sir. utilised amount or whole amount including unutilized
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On 19 June 2019 at 21:01
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Professional
1427 Points Joined August 2012

Utilised amount

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On 19 June 2019 at 21:09
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internal audit staff
53 Points Joined September 2017
sir
if Inelgible IGST input utilised to pay CGST wrongly, then interst is to be paid under IGST or CGST. please clarify
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On 21 June 2019 at 12:19


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