ITC claim

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When your Input Tax Credit (ITC) shown in GSTR 2B exceeds your company's books, it's crucial to reconcile the two. The recommended approach is to claim ITC as per GSTR 2B and then adjust your books accordingly. Ensure you exclude any ITC already claimed and any that appears in GSTR 2B without a corresponding transaction. If purchases were omitted from your books, correct them to accurately claim your input.

Chithu.E.K

Chithu.E.K (Querist)
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17 March 2021 Input tax as per gstr 2b is greater than books, while filing gstr 3b which amount should I consider

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 March 2021 Claim ITC as per 2b and correct the books.

Ganeshbabu K

Ganeshbabu K (Expert)
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18 March 2021 Make a reconciliation between GSTR2B and books

*Avoid Input if any already claimed earlier
*Avoid Input if any appear to your 2B even without making any transaction from that party
*Correct books if you ommitted to record any purchases, and claim input

Chithu.E.K

Chithu.E.K (Querist)
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18 March 2021 Thank you Sir.

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