Reversal of excess credit in cash

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DHEERAJ KUMAR (Querist)
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18 April 2019 Can excess input tax credit taken be reversed using cash ledger , as we have discontinued business and we have no credit to reverse .

CA R SEETHARAMAN (Expert)
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19 April 2019 Yes you can do it and claim refund on left over cash balance.

DHEERAJ KUMAR (Querist)
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19 April 2019 Sir, how should I show it in gstr 3b

CA R SEETHARAMAN (Expert)
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19 April 2019 Show it in table 4 B ITC reversed.

DHEERAJ KUMAR (Querist)
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19 April 2019 Thanks sir, do u need to file regular return after filling application for cancellation of registration...

CA R SEETHARAMAN (Expert)
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20 April 2019 Yes file upto date of cancellation.

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