Reversal of Blocked ITC availed and utilize
Abhijit Khan (39 Points)
29 March 2022if any interest come then in which %...?
Abhijit Khan (39 Points)
29 March 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 29 March 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 29 March 2022
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 29 March 2022
If ITC is claimed the same has to be reversed. Reversal can be done through GSTR-3B or DRC-03. If ITC has not been used then there is no interest. If ITC was utilised then interest @ 18% is chargeable.
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