Excess itc claimed in fy 17-18, Goods and Services Tax - GST

[Amit Sharma]

Hi Everyone

Can anyone tell me if i had claimed excess itc in fy 17-18 and reversed it in march 2019 then there will be need to pay interest in GSTR-9 of fy 17-18 ?

Thanks in advance.

Posts / Replies

[Atul Rathod]

Yes, you need to pay if you have utilized the said credit.

[Ganeshan Kalyani]

Yes , interest is applicable.

[KASTURI SETHI]

Section 50 of CGST Act is very much clear.