Hi, we have claimed excess ITC and recorded the same in books for 17-18. In books we have reversed in 18-19 but in GST portal it has not been reversed till date. Where should it be shown in GST9?
Molly (Others) (115 Points)
25 June 2019Hi, we have claimed excess ITC and recorded the same in books for 17-18. In books we have reversed in 18-19 but in GST portal it has not been reversed till date. Where should it be shown in GST9?
Sai Prabhu Narayanan
(Articled assitant )
(161 Points)
Replied 25 June 2019
In GSTR-9 table 7 mention the ITC reversed, as Itc reversed . in reversal column
Siddaraju S Krishnappa
(GST Expert)
(190 Points)
Replied 25 June 2019
The same should be disclosed in Table No. 7 of GSTR 9 and Set off your liability by filing DRC-03.
Though the Table No. 7 is linked with information declared in GSTR 3B, that is the right place to disclose & reverse the same under Other reversal .
Molly
(Others)
(115 Points)
Replied 25 June 2019
Thank you everyone for your replies. In column 6 should we show only correct ITC via bifurcation and put the excess as other ITC availed below which will correspond with table 7 then?
Sai Prabhu Narayanan
(Articled assitant )
(161 Points)
Replied 26 June 2019
You must mention correct itc and itc reversed
Molly
(Others)
(115 Points)
Replied 26 June 2019
So if correct ITC is 270 and 3780 needs to be reversed ie total 4050 was claimed but 3780 is excess, should this excess also be shown in Table 6 or only in table 7 in reversal?
Molly
(Others)
(115 Points)
Replied 27 June 2019
Can someone please confirm "if correct ITC is 270 and 3780 needs to be reversed ie total 4050 was claimed but 3780 is excess, should this excess also be shown in Table 6 or only in table 7 in reversal?"
Sai Prabhu Narayanan
(Articled assitant )
(161 Points)
Replied 27 June 2019
Yes! only the ITC excessively claimed must be reversed and to be mentioned in respective table.
CAclubindia
