ITC AVILED BUT NOT UTILIZED

[Rauf Khan]

With Due Respect I want to say that at the time of filling November GSTR-3B . I wanted to take ITC ₹ 5817623 but due to typical mistake I put the value ₹ 58173623 although in the month of January I reversed all excess ITC which I put wrongly even I did not utilized any excess ITC. When I concerned about this matter with my jurisdiction officer he told me you need to deposit interest on reversed ITC but when I calculate it is very high and I am not able to give such interest.

Please guide me so that i can get relief from this problem

AI Summary

Input tax credit rectification: manual application can avert interest where over-claim was a genuine typographical error.
Misstated claim of Input Tax Credit in a GST return due to a typographical error and subsequent reversal prima facie attracts interest, but administrative discretion may permit non-recovery where there is no mala fide intent. Courts have urged the government to provide a remedial executive order for such human errors, and tax authorities have indicated relief after verification of bona fides. Taxpayers should submit a written application to the jurisdictional office requesting non-recovery of interest and rectification, and follow up for portal correction once administrative relief is granted.