TaxTMI 
TaxTMI 
ITC WRONGLY ENTERED IN 3B BUT NOT AVAILED ITC SECTION 50 (3) INTEREST NOT CHARGEABLE DUE TO ITC EXCESS IN EVERY MONTH WITHOUT WRONGLY ENTERED ITC
ITC WRONGLY ENTERED IN 3B
16 Jan 2019 
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Input tax credit wrongly entered but not availed: interest under Section 50(3) not chargeable, per forum guidance.
The query asked whether interest under Section 50(3) applies where Input Tax Credit was wrongly entered in GSTR-3B but not availed; forum replies concluded that interest is not chargeable because the excess credit was never utilized, distinguishing incorrect reporting from actual availment for interest liability. (AI Summary)
The query asked whether interest under Section 50(3) applies where Input Tax Credit was wrongly entered in GSTR-3B but not availed; forum replies concluded that interest is not chargeable because the excess credit was never utilized, distinguishing incorrect reporting from actual availment for interest liability. (AI Summary)
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