19 April 2018
Dear Sir, We by mistake has reversed excess ITC ( For example Rs.800000 instead of Rs.450000 in December month 3B). I thought this mistake would be resolved when GSTR-2 be filed but unfortunately there is no news about GSTR-2 . Now my question is how to resolve this issue because now it is march and if I pay my liability for this month in 3B . I would not get any opportunity adjust this amount . Someone suggested me to wait till annual return . In annual return he said that if i would give the correct amount of reversal ,the excess payment made during FY 2017-18 would automatically stand in credit ledger or cash ledger in my account on GST portal but i am confused .
19 April 2018
SIMPLY ADD YOUR DIFFERENTIAL CREDIT (I.E 800000-450000=350000) TO NEXT MONTH 3B. IT WILL INCREASE YOUR ITC BALANCE AND YOU WILL BE ABLE TO USE IT TO SET OFF LIABILITY. DURING ASSESSMENT FOR THE MONTH OF DECEMBER YOU CAN SAY {ERROLY I REVERSED CREDIT WHICH SUBSEQUENTLY CLAIMED IN JAN RETURN.
CAclubindia
