Gst paid

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This query is : Resolved

Quick Summary

A taxpayer mistakenly paid GST in excess because their vendors filed their GSTR-1 late, preventing the taxpayer from claiming Input Tax Credit (ITC) on time. Now that the vendors have filed, the ITC is available. The taxpayer is asking whether they can claim the excess amount as a refund or if it will be adjusted against future GST payments. The advice given is that if the amount is small, it's best to adjust it. For larger amounts, a refund can be applied for, or it can be used to offset future GST liabilities.

SADIA

SADIA (Querist)
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04 November 2020 Sir,
I had paid gst in excess since my vendors failed to file the gstr 1 within due date..... Now that they have filed it and I am able to claim the itc..... Can I claim the excess gst as refund? Or will the amount be adjusted in subsequent months?

Gokul Sharma

Gokul Sharma (Expert)
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04 November 2020 if amount is not huge than you should adjust ........
you can also apply for refund as amount left in your cah ledger.

SADIA

SADIA (Querist)
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04 November 2020 Sir,
Thank you for the reply.... I had remitted 10k in excess....can you clarify how to adjust it subsequent months as I had adjusted the credit ledger with cash ledger for this month.

Lekhraj sood

Lekhraj sood (Expert)
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04 November 2020 You did not pay excess GST.You probably paid more from cash ledger.Now when suppliers filed GSTR1 your ITC will increse which you can utilise to pay future gst liability.

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