17 May 2020
Dear sir We have taken excess credit of ITC of Rs 2500/- of IGST in GSTR-3B during FY 2019-20 and want to reverse the same in FY 2020-21. In this case am i liable to pay Tax through DRC-03 or not. Pl advice me proper treatment of this error in coming GSTR-3B etc.
17 May 2020
in both the ways, itc can be reversed. There is no issue. DRC-03 is voluntary basis and in this case an intimation with ARN will be generated and communicated to your jurisdictional CGST office. but in GSTR-3B, reversal of ITC can be done and no such remarks can be put. You need to disclose this itc to your CGST Range. Option is available with you to choose which is the best.
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