Home Forum Goods and Services Tax - GST Month 6 2020 2020 (6) This
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GST ITC CREDIT REVERSL - INTEREST RATE % GUIDANCE - Goods and Services Tax - GSTExtract Dear Sir We availed GST ITC Credit in JAN 20 . One of our vendor's GST no found as canceled status in Portal and we noticed this now and we discussed with vendor and he agreed to give back the GST charged in his invoice by cheque we need to reverse this ITC in our books and also to be reported in GSTR-3B return as reversal of ITC credit along with Interst in May 2020 GSTR-3B in June20 . For this type of reversal of ITC credit at what rate interest to be calculated and from which date . Need Guidance please. thanks v Swaminathan
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