EXCESS ITC TAKEN 2017-18 WHILE ITC REDUCED IN 2018-19 (INPLACE OF REVERSAL)
This query is : Resolved
RAHUL SAHU
(Querist)
26 November 2022
I HAVE TAKEN 131250 EXCESS ITC 2017-18. SO I HAVE TAKEN LESS ITC IN 2018-19. NOW DEPARTMENT HAS ISSUED ME EXCESS ITC TAKEN NOTICE U/S 61.
THEY HAVE TOLD ME THERE IS NO SUCH PROVISION UNDER GST IT SHOULD BE REVERSED. YOU CAN NOT REDUCE IT IN SUBSEQUENT FINANCIAL YEAR.
KINDLY PROVIDE ME BETTER SUGGESTION AND RULING IN THIS REGARD.
THEY HAVE TOLD ME THERE IS NO SUCH PROVISION UNDER GST IT SHOULD BE REVERSED. YOU CAN NOT REDUCE IT IN SUBSEQUENT FINANCIAL YEAR.
KINDLY PROVIDE ME BETTER SUGGESTION AND RULING IN THIS REGARD.
CA Altamush Zafar
(Expert)
26 November 2022
It is very difficult to prove that you have reduced the same ITC. You will have to prepare reconciliations of both the years 2017-18 and 2018-19 with GSTR-2A and then prove that ITC taken is actually the ITC already taken. It will also depend what disclosures you made while filing GSTR-9/9C of those years.
If nothing works you can simply take the stand that to claim ITC the condition of matching with GSTR-2A was not required during 2017-18 and 2018-19
If nothing works you can simply take the stand that to claim ITC the condition of matching with GSTR-2A was not required during 2017-18 and 2018-19
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Intimation under section 245
- Applicability of tax on invoice
- TDS- 2026-27 Q1 Correction
- GST ITC as per notification 12/2023- central tax
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
