ITC not to be taken in accounts & GSTR-3B
This query is : Open
13 January 2024
Sir/Madam
If a GST registered person has ITC showing in his GSTR 2B and this figure is getting auto populated in GSTR 3B Part 4 (Eligible ITC) .
But this ITC is not to be taken in accounts neither claimed in GSTR-3B as it does not pertain to the business of Taxpayer.
How to depict this amount in 3B.
Should ITC available (whether in full or part) figure in Part 4. Eligible ITC be reduced by the amount not to be claimed or do we show it in some other part of Return 3B
Please Guide
Thanks in Advance
If a GST registered person has ITC showing in his GSTR 2B and this figure is getting auto populated in GSTR 3B Part 4 (Eligible ITC) .
But this ITC is not to be taken in accounts neither claimed in GSTR-3B as it does not pertain to the business of Taxpayer.
How to depict this amount in 3B.
Should ITC available (whether in full or part) figure in Part 4. Eligible ITC be reduced by the amount not to be claimed or do we show it in some other part of Return 3B
Please Guide
Thanks in Advance
13 January 2024
you can show it in reversal column or can avail net off only.
14 January 2024
Yes I agreed with Expert opinion.
Before that contact and discuss the particular person who is filed with Your GSTIN. After that decide what you do (reversal or take or leave)
14 January 2024
You can check if this ITC aligns with the business Operations and is eligible including keeping Valid Tax Invoices
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