banner_ad

Input wrongly available in credit ledger

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 March 2022 Dear sir,

One of my friend doing petrol bunk business, he purchased materials or assets for bunk, for that wrongly claimed input, we can't claim input those capital goods, we need to capitalize in balance sheet, but the input is available in credit ledger, please tell me what to do now.
Profile Image

Udaya Chandran

Profile Image

Udaya Chandran (Expert)
28 March 2022 ITC is available for capital goods also if the same is used for business purpose. If it is still ineligible in your case, then you can ignore the credit available in the GSTR 2B. No action is needed.
Profile Image

CA Altamush Zafar

Profile Image

CA Altamush Zafar (Expert)
29 March 2022 If the ITC is getting reflected in credit ledger that means that you claimed ITC in GSTR-3B. If ITC is ineligible then you need to reverse the ITC either through GSTR-3B or DRC-03
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details