Excess itc claimed in fy 17-18

[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.

AI Summary

Interest Required on Reversed ITC in GSTR-9 for 2017-18 if Utilized, Citing Section 50 of CGST Act A user inquired about the necessity of paying interest in GSTR-9 for fiscal year 2017-18 after reversing excess Input Tax Credit (ITC) claimed in that period. Three respondents confirmed that interest is applicable if the credit was utilized. They referenced Section 50 of the Central Goods and Services Tax (CGST) Act to support the requirement for interest payment.