Excess transitional sgst credit

This query is : Resolved

Sabita Sahoo (Querist)
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07 March 2018 One dealer was found claiming excess sgst ITC in tran1 than what was in his original return filed for 6/17.The dealer was asked to reverse the excess ITC with interest.How he could reverse the ITC as there was no facility today I.e neither in gstr1 or gstr3b.Is it suggested that the dealer to deposit the said excess ITC in tax and interest head.If he deposit,then there will be possibility for adjustment of said tax in subsequent tax period.Thus how he will reverse the excess ITC so availed?

RAJA P M

RAJA P M (Expert)
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07 March 2018 In current scenario GSTR 2 and 3 is not available. So, You can reverse the excess tax in GSTR 3B return...

Natasha jhaver

Natasha jhaver (Expert)
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07 March 2018 Reverse it under table 4 - ITC reversed -"Others" and pay interest on it

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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07 March 2018 Yes it can be reversed in GSTR-3B as suggest above.

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