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Itc reversal

This query is : Resolved 

Dear All,

If we have missed to reversed ITC related to FY-2017-18 till March 2019. Can we reversed it now in GSTR-9 (Annual Return). ?

Please Guide


Yes it can be reversed in annual return.

Thanku so much Sir for your valuable reply.

https://taxguru.in/goods-and-service-tax/clarifications-gstr-9-gstr-9c.html

" 3. ITC can’t be availed or reversed through Annual Return:

No input tax credit can be reversed or availed through the annual return. If taxpayers find themselves liable for reversing any input tax credit, they may do the same through FORM GST DRC-03 separately. Thus, GSTR 9 don’t have any impact on Credit Ledger."

I read this in above mentioned link. Please guide in this matter as I am totally confused Sir.

You are right we can't reverse it. You have to pay/adjust credit through DRC 03 for excess ITC availed ITC as per 2A and ITC availed

Thank you for your guidance Sir.


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