Issue in reporting GSTR 1 and GSTR 3B

This query is : Resolved

Astaf Mansuri (Querist)
Follow

03 May 2023 I have filed GST Return in form GSTR 3B and GSTR 1 Quarterly. My all outward supplies/ Sales were B2Cs only for all 3 quarters are say Rs. 50 Lacs. Same I have mentioned in outward supplies in GSTR3B timely. Now in Last quarter the sale returns of Rs. 15 Lacs out of earlier sales and the turnover of my last quarter is Only Rs. 5 lacs. Now my query is how to avail the ITC wrongly utilized for Rs. 10 Lacs (15 Lacs – 5 Lacs) sales of earlier period in last quarter in GSTR 3B?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 May 2023 In the event that the value of credit notes becomes higher than the sum of invoices and debit notes put together, the net ITC would become negative, and the taxpayers would be allowed to report negative values in Table 4A. Also, taxpayers can now enter negative values in Table 4D(2) of GSTR-3B.

Astaf Mansuri

Astaf Mansuri (Querist)
Follow

03 May 2023 I think Table 4D(2) of GSTR 3B is for not reclaim of ITC in case of sales return ?
Please correct me if i am wrong.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 May 2023 I feel it's the right one.
If not suggest the right one I may be wrong.

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