ITC Reversal Of Common Credit

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ITC Reversal Of Common Credit
Query (Issue) Started By: - Kaustubh Karandikar Dated:- 13-9-2019 Last Reply Date:- 22-9-2019 Goods and Services Tax - GST
Got 2 Replies
GST
In case of rever .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sal of ITC under Rule 42 on common credit taken against exempt as well as taxable supplies,the rate of interest payable on delayed reversal of common credit will be 18% or 24%? Reply By CSSANJAY MALH .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... OTRA: The Reply: 18% as per Section 50(1) of CGST Act. (relevant section specified in Rule 42 of CGST Rules 2017) Reply By Ganeshan Kalyani: The Reply: 18% interest rate is applicable.
Discussi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X