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Interest on ITC reversed through DRC-03 partly in cash and partly from credit ledger - Goods and Services Tax - GSTExtract Dear experts, We had taken excess ITC during 2017-18 but the said ITC was always remain in our credit ledger. During the year 2019-20, the said ITC is reversed through DRC-03 . Instead of reversing the whole amount of ITC from credit ledger, assessee has reversed some amount in cash. Whether interest is required to be paid on cash reversal of ITC as assessee had sufficient balance of ITC in their credit ledger and the same was never utilised but wrongly reversed some ITC from cash ledger?
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