Import IGST claimed twice erroneously in FY 20-21
This query is : Resolved
29 September 2021
IGST ₹11,00,000 on goods imported was erroneously claimed twice in FY 2020-21 - once in June, and once in November.
How to resolve the same? Can I show it in ITC reversed tab in GSTR3B and pay it off in September 2021 return? Or do I pay it when filing GSTR9 for FY 2020-21. If through GSTR9, how do I disclose the reversal of wrongly claimed IGST on imports?
Thank you.
How to resolve the same? Can I show it in ITC reversed tab in GSTR3B and pay it off in September 2021 return? Or do I pay it when filing GSTR9 for FY 2020-21. If through GSTR9, how do I disclose the reversal of wrongly claimed IGST on imports?
Thank you.
29 September 2021
You can reduce the ITC to the extent of wrongly claimed in the current period instead of showing it in the reversal column in GSTR 3B as this is not taking into the account and reduce the ITC balance. Also if you've utlised the ITC against liability, you can make interest payment through DRC-03.
29 September 2021
Reverse the amount through DRC-03 along with interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- What is provisional receipt number for generation of form 16A
- Scrutiny assessments u/s 143(2) for AY 25-26
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
