Gstr9

This query is : Resolved

CASS Sanghaviandco (Querist)
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25 June 2019 Sir
In July-2017, ITC was shown more by error in GSTR3B say Rs.10000, Please remember (Shown more, not ustilised as set-off). This part of ITC was never used as set-off, also it was not reversed.
Monthly GST payable every month was paid (without touching the excess ITC of July-17, Rs.10000). Electronic Ledger balance always showed credit balance of this ITC Rs.10000, as it was never used as set-off. Electronic ledger balance is same Rs.10000 on 31-3-18 & 31-3-19.
In May-2019 this is reversed now, now electronic ledger balance is Zero. No GST is payable.
Q1. What should we do now in GSTR9 – annual return?
Q2. Was it correct to reverse ITC now in May-19? What should we do now about this? There was no GST Liability at any point, there is no GST liability now.
Q3. As this ITC 10000/= is reversed now, shall we reverse it again in annual return of 2017-18. In that case what about reversal made in May-19.

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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26 June 2019 i am not sure, but you must have to reversed it before march 19, then it would be good...

if you had did that, you can show that in annual return of 17-18, that itc reversed 10000

now there is no colum to fill the details of ITC reversed after march 19....

So just confirm one thing, had you use the option of ITC reversed in 3B or just shown Less input for the month of may 19 in 3B

Like u have itc of 25000 in may 19 and show in return to only 15000, so as to set off the previous one ??

CASS Sanghaviandco

CASS Sanghaviandco (Querist)
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26 June 2019 Thanks for your valuable reply.
We have reversed the ITC and not adjusted against May 2019 month's ITC setoff

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