ITC taken wrongly

Indira (CA ) (1381 Points)

09 June 2020  

Hi

In June 2019 ITC to the extent of Rs.3,42,299 was taken wrongly and future GST payments were adjusted against this ITC. How to reverse it? Can i reverse while filing March GSTR 3B. Do i have to pay interest or penalty? Also ITC relating to last year to the extent of Rs.2280 wrongly taken is not reversed. Can i reverse previous financial year ITC? How to reverse it?

 

Thanks

Indira K  V