Reversal of credit ledger balance
This query is : Resolved
keerthana.p
(Querist)
12 March 2024
a party wrongly shown gst input credit in itc availed during the year 2020-21 but the same amount is not utilized so far. the amount is still reflected in credit ledger. how to nullify the same amount so that it should not seen in credit ledger
Mayur Gondaliya
(Expert)
13 March 2024
From the format of Table 4 of GSTR3B, following is noteworthy:
I. All non-reclaimable reversal of ITC needs to be reported in table 4(B)(1)
II. All reclaimable ITC reversals may be reported in table 4(B)(2). It should be noted that ITC reversed
under 4(B)(2) can be reclaimed in table 4(A)(5) at appropriate time and the break-up detail of such
reclaimed ITC should be provided in 4(D)(1) in the same return.
III. The ITC not-available mentioned in GSTR-2B of the taxpayer has to be reported in 4(D)(2) of table 4.
IV. Any ITC availed inadvertently in Table 4(A) in previous tax periods due to clerical mistakes or some
other inadvertent mistake maybe reversed in Table 4(B)2
I. All non-reclaimable reversal of ITC needs to be reported in table 4(B)(1)
II. All reclaimable ITC reversals may be reported in table 4(B)(2). It should be noted that ITC reversed
under 4(B)(2) can be reclaimed in table 4(A)(5) at appropriate time and the break-up detail of such
reclaimed ITC should be provided in 4(D)(1) in the same return.
III. The ITC not-available mentioned in GSTR-2B of the taxpayer has to be reported in 4(D)(2) of table 4.
IV. Any ITC availed inadvertently in Table 4(A) in previous tax periods due to clerical mistakes or some
other inadvertent mistake maybe reversed in Table 4(B)2
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