Saurabh Kumar (116 Points)
27 June 2018
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 27 June 2018
PLease elaborate your question !
Rammi_RP Rawat
(Accountant )
(386 Points)
Replied 27 June 2018
Pay Your IGST again..N claim your CGST,SGST.
for Excess ITC ...Pay Penlty 24% annum.U/Section 42/10
CA Padmasri Manyam
(CA in Practice)
(1340 Points)
Replied 27 June 2018
Payment of tax as CGST and SGST instead of IGST, the correct tax has to be paid again. No need to pay any interest. In case of any additional liability, then interest @ 18% has to be paid on the diffential tax liability.
eg: IGST payable is 500, actual amount paid is 200 (CGST+SGST), balance of Rs. 300 has to be paid as IGST along with interest. Rs.200 can be paid as IGST without interest, since the tax was already paid CGST+SGST.
You can adjust CGST+SGST already paid in subsequent months or claim refund of the same.
Excess availment of credit, to be reversed in subsequent month along with the interest at the rate of 24%.
Rammi_RP Rawat
(Accountant )
(386 Points)
Replied 28 June 2018
Sorry .One More option open in GSTR-3B table no. 4 ITC Reversed. Section B others.you can reversal your Excess claim.
Saurabh Kumar Gupta
(MBA)
(22 Points)
Replied 28 June 2018
Dear Madam
Thanks for your help. To clear my doubt plz see the attached sheet in which u can c genuine sale in table A , wrong sale reported in table B , Wrong tax paid in table D , excess itc taken in table E and genuine Itc in table E. Now you can consider my problem. How should I solve this puzzle? I Need your support.
Regards
Saurabh Gupta
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