28 August 2020
Dear Expert, I have balance ITC Showing in electronics ledger balance on 31st March 2020, But I have not applied refund it's automatically adjusted in April 20 returns Please advise this is correct or not Or payable amount paid by Cash for April months returns
28 August 2020
Dear Sir, The Balance in the Cash Ledger or Credit Ledger is automatically setoff while filing the GSTR-3B payment and it will show only the balance payable is a normal Process . However you have not mentioned of the cross utilization made or not so please do take care of that as well
29 August 2020
GST portal automatically run the set-off process/step. GST under RCM, interest and late fees are the ones which is required to be paid in cash only as ITC can only be used for GST on outward supplies. You stated refund, please go through the process of refund as GST refunds are applicable to Zero-rated supplies, inverted duty structure and excess payment in Electronic Cash Ledger only.
CAclubindia
