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
PHANEENDRA MALLA
(Expert)
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.
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28 December 2020
Just updating that now recently GST Portal has allowed to report Negative Output liability in GSTR-3B.
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