23 October 2023
Respected Sir In january 2023 One Invoice of Event Management With Food, Drinks and Branding (SAC Code 9985 )was showing in GSTR 2B Invoice amount is 1,31,250 Rs. In that Month of GSTR 3b of I Reversed in the column ((B) ITC Reversed (2) others ) this Itc Because of food and beverages Credit restricted under section 17(5)
Now in the September Month of 2023 Supplier issue Credit note of rs. 1,31,250 Rs. (Reason not Known)
So in the September 2023 i have to Pay tax in Cash Because of reversel of ITC ,
My Question is Can we Declare ITC that i have reversed in January Month as opening Balance in Electronic Credit Reversal and Re-claimed Statement and Reclaim in this September Month again ??
19 January 2024
https://www.roedl.com/insights/india-electronic-credit-reversal-re-claimed-statement#:~:text=Taxpayers%20are%20being%20provided%20a,opening%20balance%20for%20ITC%20reversal
CAclubindia
