Hello Experts. I have claimed excess Itc of last year of Rs. 25. Should i pay interest @ 24%? and how to create challan for the same?
Menu
Regarding excess claimed of itc
Replies (2)
25Rs is a Minor amount you can ignore it..
if you want you can reverse it but no need to pay interest.
if you want you can reverse it but no need to pay interest.
As per section 50 CGST Act wrong claim of ITC interest is applicable @ 24%
Recent Threads
- Section 44AB is Gone — How Different is Tax
- Capital Gains from Cancelled Residential Project
- Import of goods data in IMS
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
Related Threads
CAclubindia
