Annual return query-GST-2020-21

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This query is : Resolved

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A user is seeking advice on how to correctly classify Goods and Services Tax (GST) Input Tax Credit (ITC) reversals in their annual return for the 2020-21 period. They initially misclassified reversals as 'All Other ITC' and later corrected it from November onwards. The core issue is whether to adjust this classification in the annual return, given that the total ITC availed remains correct, only the reporting head differs. The user is seeking clarification on the best approach to ensure accurate filing.

CA Parul Saxena

CA Parul Saxena (Querist)

28 December 2021 For the year for the period Apr-Sep i have not shown gst reversed under the head reversal instead net amount shown under ALL OTHER ITC.
From nov onwards i have shown gross amount of GST in All other ITC and GST reversed under the head REVERSAL OF ITC.

Now what to do in Annual return? Correct this classification or not?
Ultimately i have availed the ITC what was supposed to be availed just there was difference in classification..
The reversal was on the Discount received from supplier per month..Please suggest..

B Sathyanarayanan

B Sathyanarayanan (Expert)

28 December 2021 you can show the reversal of ITC in table 13 and pay thro DRC 09 the difference in liability and make a working and match it and file the GSTR 9 and in column 13 , but you have to pay with 24% interest .

CA Parul Saxena

CA Parul Saxena (Querist)

28 December 2021 you are not getting my point...ITC availed is Rs.90 in GSTR3B i have shown Rs.90 as All other ITC..Now in Annual return what to do Rs.90 as shown as ITC or Rs.100 as All other ITC and Rs.10 as reversal of GST under reversal

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