https://www.taxtmi.com/forum/issue?id=118648 Mistaken utilization of Electronic Credit Ledger for outward tax when cash ledger had sufficient balance creates an overdraft reflecting un-reversed or ineligible Input Tax Credit; the taxpayer must reverse the ITC in a subsequent GSTR-3B by reducing eligible ITC or pay the liability (and interest) from the cash ledger, or make a voluntary payment via Form DRC-03. Interest on the wrongly availed/utilised ITC is payable irrespective of cash ledger balance. en-us Sun, 16 Jul 2023 11:43:21 +0530 Thu, 23 Jan 2025 15:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118648 Mistaken utilization of Electronic Credit Ledger for outward tax when cash ledger had sufficient balance creates an overdraft reflecting un-reversed or ineligible Input Tax Credit; the taxpayer must reverse the ITC in a subsequent GSTR-3B by reducing eligible ITC or pay the liability (and interest) from the cash ledger, or make a voluntary payment via Form DRC-03. Interest on the wrongly availed/utilised ITC is payable irrespective of cash ledger balance. Discussion-Forum GST Sun, 16 Jul 2023 11:43:21 +0530 https://www.taxtmi.com/forum/issue?id=118648