Credit ledger balance query

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This query is : Resolved

Quick Summary

A client has an outstanding credit ledger balance on their GST account since March 2019 and wishes to know if it can be used against current outward supply liabilities. The consensus is yes, this credit balance can be utilised against GST liabilities in any GSTR 3B return, including the February 2020 return. There is no time limit on utilising availed credit.

deepak

deepak (Querist)

31 March 2020 One client has credit ledger balance since march return 2019. And credit balance available in my client gst account .So query is that can we utilise credit ledger balance agaist outward supply liability as on today february 2020 gst return.

RAJA P M

RAJA P M (Expert)

31 March 2020 Yes... If ECL having balance then You can set off (claim) in any month's GSTR 3B return... As per Your query You can set off the balance to Feb-20 GSTR 3B return.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)

31 March 2020 Yes, all the credit which has been availed in the GST returns and have not been utilised, can be utilised against the GST liability at any point of time, There is limitation to avail the credit and not on utilisation.

You can set off your Feb 2020 liab with the credit balance outstanding since March 2019

RAJA P M

RAJA P M (Expert)

31 March 2020 This is not forum section. If reply is wrong then attend the query. if given correct answers then simply leave it.... right?

deepak

deepak (Querist)

31 March 2020 thank you to all for reloution of my query.

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