Goods and Services Tax – Started By: – Ramesh Prajapati – Dated:- 21-9-2018 Last Replied Date:- 10-10-2018 – Sir, A dealer has submitted gstr 3b of July 17 with following detalis.Output gst 100000Itc 80000Net gst paid 20000Later he rectified above data in December 17 gstr 3b as underOutput tax 250000Itc 150000 (Net gst 100000(itc adjusted from credit ledger) My question is on which amount interest would be payable 250000, 100000 or other? My dout.. As dealer has adjusted itc in December, he would liable to pay interest on entire amount of output i. E 250000 from August to December Pl guide – Reply By SHIVKUMAR SHARMA – The Reply = Interest is to be payable on ₹ 150000/-For the Period From August to December 2017.250000-100000(80000+2
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ns for the Month of August, same will not be considered as ITC in August. However As per Sec 18(5), ITC Will not be available in case Invoice is more than 1 year Old. Assuming that you have not filed Return for Aug-2018, you can take input However if the Returns for Aug-2018 is filed without considering the Input then you will not be eligible for the ITC Of ₹ 70000/ Reply By SHIVKUMAR SHARMA – The Reply = Shri Yash Jain JiThe Querist have made the Payment of Tax in Dec.2017 not In Dec.2018 – Reply By Ramesh Prajapati – The Reply = Thank you sir! – Reply By DR.MARIAPPAN GOVINDARAJAN – The Reply = Interest is to be paid on ₹ 1,50,000 as opined by Shri Sivakumar. – Reply By Yash Jain – The Reply = Dear Sir, As the statement of the
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