ITC

Save Share

This query is : Resolved

Quick Summary

If your output tax is less than your input tax credit (ITC), your GST payable is nil. You should still claim the full ITC amount in your GSTR-3B. If you filed a nil return in a previous month due to no sales or purchases, but had ITC available in GSTR-2B, you can carry forward this unused ITC to the next month's GSTR-3B filing.

Chithu.E.K

Chithu.E.K (Querist)

18 March 2021 If the output tax is less than the input tax credit, then how is GST computed? Need to show the full ITC amount in GSTR3B

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 March 2021 In such a case GST payable is Nil. Claim full ITC in GSTR 3b.

Chithu.E.K

Chithu.E.K (Querist)

18 March 2021 Than you sir. that means if the ITC is Rs2000 show Rs 2000 in GSTR 3b right
Sir need one more clarification
there's no purchase and sales during last month so filed GSTR3b as nil return but there's ITC in GSTR2b didn't consider the ITC while filing what should I do now.? Can I show the same in next month's GSTR 3b return?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

19 March 2021 1 yes, you are right.
2 Show the same in next month's GSTR 3b return.

Chithu.E.K

Chithu.E.K (Querist)

19 March 2021 Thank you sir

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