ITC mismatch reversal

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This query is : Resolved

Quick Summary

A user made a typographical error in their February 2024 GSTR 3B, leading to an overclaimed Input Tax Credit (ITC). They are asking how to reverse this excess ITC in Table 4B-1 of the GSTR 3B. The user also noted that the portal automatically calculated interest on the reversed amount, even though they had sufficient credit in their ledger and didn't utilise the excess. They are seeking clarification on whether this interest must be paid and if they can proceed with filing the next month's GSTR 3B without paying it.

Anil Bhawasinka

Anil Bhawasinka (Querist)

15 April 2024 I had some typographical error in CGst and sgst input credit claim in gstr 3B for Feb 24 resulting
Claim of much higher ITC than the real one.
In which table and column of Gstr3B this exess ITC Claim can be reversed.

ASHWANI DHANUKA

ASHWANI DHANUKA (Expert)

15 April 2024 It shall be reversed throughTable 4B-1

Anil Bhawasinka

Anil Bhawasinka (Querist)

17 April 2024 Dear sir
I filed gstr3B with ITC reversal. The portal has automatically calculated the effect of reversal and at the last line given breakup of amount on which interest will be calculated and will auto populate in next GSTR3B. Will I have to pay this interest even if did not make any use out of it. I already had credit in electronic credit ledger. Can I file next month 3B without paying this interest.

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