Rule 36(4) GST Adjustment query

This query is : Resolved

CA Parul Saxena (Querist)
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14 October 2020 Suppose input available for the month of Sep is Rs.30000 and input to be reversed for the period APr-Aug2020 is Rs.35000 then how this negative 5000 would be shown in return?

Lekhraj sood

Lekhraj sood (Expert)
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14 October 2020 Rs.5000 will be adjusted with opening balance of your ITC.

CA Parul Saxena

CA Parul Saxena (Querist)
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15 October 2020 Ok fine but in return how to show it....?As in the return only input available needs to be shown

Lekhraj sood

Lekhraj sood (Expert)
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15 October 2020 You can show ITC utilised more than the ITC availed. There is no issue.Opening balance is in your ITC ledger,it will reduce 5000 from there.

CA Parul Saxena

CA Parul Saxena (Querist)
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17 October 2020 How to show ITC utilised more i am not getting...what to do if opening balance also is not there?

Lekhraj sood

Lekhraj sood (Expert)
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17 October 2020 If you have no opening balance then you cannot utilise credit more than availed.You have to pay the liability in cash.

CA Parul Saxena

CA Parul Saxena (Querist)
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19 October 2020 Sir please read my query again i am asking about ITC reversal...the problem is itc reversal for the period Apr-Aug is more than ITC to be availed for the month of Sep...so what to do of extra amount to be reversed?

Lekhraj sood

Lekhraj sood (Expert)
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19 October 2020 You can reverse in this month to the extent of available ITC balance.Balance reversal you can do in the month 3B return when you will take fresh ITC in October/November.

Mohd. Amjad

Mohd. Amjad (Expert)
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22 October 2020 it will be shown as credit reversal in part 4B (1) of GSTR 3B.

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