GSTR 9 query

This query is : Resolved

CA Parul Saxena (Querist)
Follow

16 February 2021 ITC as per 3B is Rs.100000 ITC as per 2A is 120000. difference is of rs 20000. Reason being Rs.30000 we have not taken in 3B and Rs.10000 not reflected in 2A.
Auditors' asking for payment of Rs.10000..is it justified?
As overall ITC in 2A is more than ITC in 3B even than payment required?
If yes then as per Rule 36(4) too we are falling within 10% limit that was prevailing last year

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

16 February 2021 If that missing Rs 10000 is for before October 2019 then there is no need for reversal since Rule 36(4) got implemented from October. Secondly also check whether the supplier has updated till September 2020. If yes then there is no need to reverse.

CA Parul Saxena

CA Parul Saxena (Querist)
Follow

16 February 2021 Bills pertains to March 2020 & we are falling within 10% limit. Now please let us know payment is to be made?

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

16 February 2021 That 10% limit is just adhoc. In the truest sense it should have been invoice wise but to garner acceptability from tax payers the government said it to do monthwise.
Just check whether the invoice has been shown till September 2020. If yes then no need to reverse.
If no then you need to discuss it with your auditor and convince him for the 10% relaxation

CA Parul Saxena

CA Parul Saxena (Querist)
Follow

16 February 2021 What is your advise we should make payment or not?overall the ITC in 2A is more than 3B..

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

16 February 2021 In my view no need to make payment.

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