Excess itc claimed in gstr 3b july 2017
This query is : Open
12 January 2018
I have wrongly claimed excess ITC (IGST) of 2lacs in GSTR3b for the month of July 2017 due to which Credit of IGST has been increased by Rs. 2 lacs. Now how to rectify the error? Please provide some solution...
Thanx in advance.....
Thanx in advance.....
12 January 2018
Rectify the mistake in the next gstr 3b.
12 January 2018
How??pls provide details.. for that whether i have to disclose taxable amount for that & disclose IGST by Rs.2lacs under taxable supplies Or in any other head?
12 January 2018
Reverse the excess ITC and net it of with current month ITC.
13 January 2018
Where? Either
- in the head ITC reversed others under 4(B)(2) of gstr 3b
OR
- in the head 3.1(a) outward taxable supplies by providing the amount under the IGST
- in the head ITC reversed others under 4(B)(2) of gstr 3b
OR
- in the head 3.1(a) outward taxable supplies by providing the amount under the IGST
13 January 2018
Yes reverse under 4(B)(2).
Message likes :
1 times
05 April 2018
I have taken ITC in Month of February for what vendor billed in February. In March I had to inform them of rejected goods as it was not complying with legal metrology. Vendor took it back in March and issued me credit note and I took acknowledgment of returned goods on delivery challan. As there is no other inward supply in march, the ITC to be reversed against credit note is more so the nett result is negative. GST portal does not accept negative number. Should one file the nil amount in GSTR 3B and wait for the GSTR 2A to become active. By then the vendor's GSTR 1 will be filed and the credit note will reflect in 2A.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
