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ITC and RCM reversal in GST portal

19 April 2024

For the month of February 2024,GSTR2B was not generating and was showing error as "GSTR2B is being generated and shall be available by 14/03/24......" But it's already April and not yet generated,so filed GSTR3B and claimed RCM and Input tax Credit.but on filing GSTR3B for March,RCM and and Input tax credit is auto populated which was of February (IGST and RCM amount).

Should I reverse claimed ITC and RCM of February in March GSTR3B with the auto populated amount.?

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16 Replies

RAJA P M ("Do the Right Thing...!!!") (127196 Points)
Replied 19 April 2024

As per Your query You claimed the ITC without in GSTR 2b... Right...???

If Yes, then its wrong claim. So, pay the excess claimed ITC with interest.

RadheyShyam Traders (15 Points)
Replied 19 April 2024

No GSTR2B was not generated and still its not available for February 2024.and If I have not paid interest can I pay next month ?

RAJA P M ("Do the Right Thing...!!!") (127196 Points)
Replied 20 April 2024

I said the same as You.

You claimed the ITC without GSTR 2b in feb24.
Without generated means no ITC in GSTR 2b. But, You claimed in GSTR 3b.
So, It's payable with interest.

Danish Abbas (153 Points)
Replied 20 April 2024

What is a question
Is ITC not reflected in 2b or 2b is not generated?

RadheyShyam Traders (15 Points)
Replied 20 April 2024

GSTR2b is not generated

RAJA P M ("Do the Right Thing...!!!") (127196 Points)
Replied 20 April 2024

Originally posted by : RadheyShyam Traders
	GSTR2b is not generated

I understand this...

what about the supplier's filing date?.

If he filed after due date then its can't populate same month. It's available only next month when it's generated.

RadheyShyam Traders (15 Points)
Replied 20 April 2024

The Transporter has filed before the due date but the supplier has filed on April 2024.

Danish Abbas (153 Points)
Replied 20 April 2024

Please answer my few question:

1) In which you have claimed ITC?

2) In which month 3b, ITC auto populated?

3) Is your supplier filed your return before due date means before 11th

Clear my query specially.

RadheyShyam Traders (15 Points)
Replied 20 April 2024

1.ITC claimed for February 2024

2.For the month of March 2024 GSTR 3b is auto populated

3. No the supplier has not filed before due date i.e 11th .but the transporter from whom the supplier has sent the material has filed before due date for which I have paid the Reverse charge from cash ledger for the month of February on March .

CA Anoop Kumar Sharma (Accounts Manager) (284 Points)
Replied 20 April 2024

You are asking regarding, if the ITC (Input Tax Credit) you claimed in February 2024, which appeared in the March 2024 GSTR-2B report, should be reversed in March and then claimed again in the same month, right? Did I understand correctly or not??