Negative figure in output IGST how to show in 3b?
This query is : Resolved
08 November 2019
Sir/Madam,
Please help me to know that our output igst is having negative figure(-950.70) last month (oct 2019) due to excess credit note . Please help me to know how we can show in gstr3b as negative figure is not acceptable in 3b.
thanks in advance
Regards
Rajesh
Please help me to know that our output igst is having negative figure(-950.70) last month (oct 2019) due to excess credit note . Please help me to know how we can show in gstr3b as negative figure is not acceptable in 3b.
thanks in advance
Regards
Rajesh
08 November 2019
Yes. Negative figures are not allowed in GSTR-3B for outward supplies. Further Reversal column is not provided likewise for ITC.
So. we have to adjust Next Month GSTR-3B to the extent of Negative value. For Current Month Returns, we cannot consider that amount.
So. we have to adjust Next Month GSTR-3B to the extent of Negative value. For Current Month Returns, we cannot consider that amount.
Message likes :
1 times
28 December 2020
Just updating that now recently GST Portal has allowed to report Negative Output liability in GSTR-3B.
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
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Loss of interest in PF transfer from EPFO to Trust
- TDS offline utility
- Due Date Clarity
- IT returns for fresh job holders
- Banking Related Issue
- Residential status of non resident
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
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
