REVERSAL OF INPUT TAX CREDIT
This query is : Open
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SHYAMLAL KAYYARUVATH
(Querist)
28 January 2021
Dear sir,
We have wrongly taken excess credit amount Rs.35000/- as CGST and the same in SGST in 2019-20.Now we have balance in CGST and SGST credit ledger in GST site.Can i reverse the excess credit from the available balance in credit ledger now.
We have wrongly taken excess credit amount Rs.35000/- as CGST and the same in SGST in 2019-20.Now we have balance in CGST and SGST credit ledger in GST site.Can i reverse the excess credit from the available balance in credit ledger now.
28 January 2021
Yes, reverse it now.
CA Rashmi Gandhi
(Expert)
29 January 2021
Reverse in through DRC -03.
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