GST Annual Return with Reclaimed ITC

This query is : Resolved

M Sairam (Querist)
Follow

29 December 2022 Dear Experts,
My colleague reversed a claimed ITC of 3,04,402 (Double the actuals) instead of 1,52,201 and then again did the mistake of reversal of excess reversed amount instead of reclaiming Hence now the situation is we have an ITC amount of 3,04,402 which is need to reclaim due to mistake in reversal. Actual confusion is whether can i claim these excess reversed ITCs even if the due date for claiming ITC as per sec 16 has lapsed.

Kindly let me know with supporting GST pronouncements. Thanks in advance.

Dipesh

Dipesh (Expert)
Follow

30 December 2022 You have to avail/re-claim in GSTR-3B on or before 30/11/2022, now the opportunity is missed. But you can avail refund under type "Excess payment of tax" but you have to prove to authority valid reason of reclaim this ITC and this ITC is not in category of ineligible.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Mukesh Singh

Shakthi

manojkumarkk

Sagar Khakhiwala

ajay agrawal

Subscribe Now

GST Annual Return with Reclaimed ITC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

Article Assistant