Excess itc claimed in gstr 3b july 2017

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Priyanshu Goel (Querist)

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.....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

12 January 2018 Rectify the mistake in the next gstr 3b.

Priyanshu Goel

Priyanshu Goel (Querist)

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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

12 January 2018 Reverse the excess ITC and net it of with current month ITC.

Priyanshu Goel

Priyanshu Goel (Querist)

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

13 January 2018 Yes reverse under 4(B)(2).

Message likes : 1 times

Sunil

Sunil (Expert)

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.

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