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penalty inspite of reversal of ITC - Goods and Services Tax - GSTExtract Dear experts, one of my client claimed excess ITC in the month of January 2018 (due to feeding error). some amount of it was utilised also in subsequent months . In the month of Oct., 2018 3B the excess claimed ITC was reversed and tax paid. 90% of this paid tax was lying in cash ledger. the fact of reversal was also mentioned in GSTR-9 table No 12. SCN issued. we replied as above. Interest u/s 50 was paid after DRC-07 .in DRC-07 department imposed penalty u/s 122(2)(a) @ 10% of wrong ITC availed. My query is : when ITC has been revered voluntarily informed through 3B GSTR-9 .is it justified to impose penalty because section 73(8) waives penalty but I think 73(8) covers cases of payment through DRC-03 . if my case is covered by section 73(8) , then whether it makes any difference if only tax is paid, as Interest was paid after DRC-07
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