Itc reversal
This query is : Resolved
21 August 2019
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
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
21 August 2019
Yes it can be reversed in annual return.
21 August 2019
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.
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.
21 August 2019
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
Message likes :
1 times
22 August 2019
Thank you for your guidance Sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Plot of land. Cost of Acquisition
- Specified Profession
- GST ON DAMAGED GOODS
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
