Reverse of Input tax credit

You are correct as far as you are ready to pay the interest. However pls note that in the month of Oct'18 you have to take again the Credit of Rs 33000 so you have two option - 

1. Reverse separately under Table 4A.2 (Other reversal) - More preferred

2. Take the net credit 33000-14000 = 19000 (Not advisable)

Your question is not fully clear. However, In my opinion, since you have taken excess input credit in January'18, you have to pay it again i.e, Rs. 33000 along with interest and you can claim input of Rs. 33000 in return related to Oct,18.