Applicable rate of interest on ITC reversal of Audit point prior to GST now to make payment = = = = = = = = Plain text (Extract) only = = = = = = = =
Query (Issue) Started By: – karunakar reddy Dated:- 12-6-2018 Last Reply Date:- 13-6-2018 Central Excise
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Central Excise
Dear Sir/Madam,
we have been recently audited of records prior to GST, in this we have to reversal of ITC now along with interest. please let us know the applicable rate of interest for the same.
Reply By SHIVKUMAR SHARMA:
The Reply:
Rate of Interest is 15%
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