ITC Reversal under Section 37
This query is : Resolved
08 December 2021
In Case of Reversal of ITC under Rule 37 due to non-Payment to supplier in 180 Days whether the Reversal of ITC is added in Output tax liability or In Reversal (Others)
08 December 2021
Reversal of ITC means the credit of inputs utilised earlier would now be added to the output tax liability, effectively nullifying the credit claimed earlier. Depending upon when such reversal is done, payment of interest may also be required.
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10 December 2021
My question is whether the figure to be shown in GSTR 3B Table 3.1(a) Details of Outward Supplies or in GSTR 3BTable 4(B)(2) Other Reversal
10 December 2021
Reverse in GSTR 3BTable 4(B)(2) Other Reversal
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