ITC REVERSAL OF FAKE BILLS
This query is : Resolved
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06 February 2026
Dear Experts, we want to reverse ITC of fy 2022-23 as supplier did not deposited tax. The department asking to reverse the itc by deposit in cash or through availabe ITC by DRC 03. The main pointis how to deposit through DRC 03, which option to choose from dropdown box such as mismatch or before issuance of SCN. KINDLY elaborate it. Thanks
07 February 2026
For reversal of ITC of FY 2022-23 due to supplier non-payment, use DRC-03 and select “Voluntary payment before issuance of SCN” under Section 73 (unless fraud alleged). Pay tax and interest in cash to the extent ITC was utilized. Avoid selecting mismatch option. Proper filing protects against penalty escalation.
07 February 2026
Very very thanks for prompt reply
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