Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 58/2018 dated 4th September, 2018 to clarify the process of recovery of arrears of wrongly availed CENVAT credit under the previous regime and CENVAT credit wrongly carried forward as transitional credit in the GST regime.
It has been clarified that the taxpayers can reverse the wrongly availed Cenvat credit under the previous regime and inadmissible transitional credit through Table 4(B)(2) of FORM GSTR-3B, and the applicable interest and penalty on all such reversals shall be paid through entry in column 9 of Table 6.1 of FORM GSTR-3B.
For further information please refer the attached document.
Source: Central Board of Indirect Taxes & Customs