Can i adjust wrong itc against right itc ?

22 May 2019
For the FY 2017-18, Excess ITC already claimed of Rs 16000/= ( approx ) by mistake OF DOUBLE ENTRY OF PURCHASE BILLS considered in GSTR 3B.
But now at present as on 22/05/2019, Input Tax credit as per GST PORTAL is Rs 17000/= approx .
my question ?
1) What is the remedy to reverse the Input Tax credit already claimed by mistake of Rs 16000/= during FY 2017-2018 ?
2) Is there any time limit present for reverse the wrong ITC claimed during FY 2017-2018 ?
3) Can i adjust wrong ITC claimed For FY 2017-2018 against Correct ITC as on 22/05/2019 ? If yes , then how is it possible ?


CA Anita Bhadra (Expert)
22 May 2019
Government has drafted GSTR 9 in such a way that any payable amount to them can be made thru GSTR 9 along with interest but you can not take benefit of ITC not claimed etc .

In my view , In Table 12 of GSTR 9 ( Reversal of ITC ) enter this excess ITC claimed and pay it thru DRC 03 ,

CA Anita Bhadra (Expert)
22 May 2019
As payment thru DRC 03 is to be made thru cash ledger only , available credit in your credit ledger can not be utilised for this purpose

Udaya Chandran (Expert)
24 May 2019
You can reverse the ITC in GSTR 9 and pay the differential amount along with interest to be calculated up to the date of payment.

And also since you should not utilize the excess ITC available in your credit ledger, you need to reverse the same in the current year (unless the filing of GSTR 9 modifies (adjust the reversal) the electronic credit ledger automatically)

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