Go AD-Free with CAclubindia Pro and get Daily WhatsApp Updates. Subscribe Now!

Input tax credit

This query is : Resolved

Share Report Follow Query Ask a Query

Hemkumar

Hemkumar

(Querist)
Follow

20 August 2019 During FY 2017-18, ITC was claimed excess in 3B than actually allowable, now what is ideal situation 1. Pay tax in cash through challan in annual return equal to excess amount claimed.(not to give any effect to credit ledger ) 2. reverse excess input tax credit in GSTR 3B (even if we reverse excess tax credit in than also we have sufficient tax credit so we need not to pay tax in cash i.e we have total itc of rs 200000 out of which if we reverse rs 50000 than also we have sufficient balance in credit ledger) ??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

20 August 2019 Pay tax in credit through DRC 03 in annual return equal to excess amount claimed.( to give effect to credit ledger )

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

SARAVANAN PALANISAMY

GST Karimnagar state

Darshan

Krishnamohan Gangaraju

CA Bijo scaria

Subscribe Now

Quick Links

Browse by Category

Latest Job Openings

View all

Featured 02 May 2026

Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details

Featured 29 April 2026

Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details

Featured 14 April 2026

GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details

Featured 13 April 2026

GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details

Featured 28 March 2026

Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details

Featured 28 March 2026

CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details

Featured ARTICLESHIP 19 March 2026

Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details

Featured 14 March 2026

Associate CA

N N V Satish&co

Hyderabad

View Details