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EXCESS CREDIT TAKEN OF ITC IN GSTR-3B

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(Querist)
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.

Thanks
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 May 2020 No need of DRC 03. Reverse it in current month GSTR 3 b and pay through GSTR 3 b.
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PAWAN KUMAR

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PAWAN KUMAR (Expert)
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.
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