ICICI

Adjustment of itc after opting for composition levy.


Caclubuser (Accountant)     18 June 2019

Caclubuser
Accountant 
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I wrongly claimed ITC in the CGST/SGST column instead of IGST column in the GSTR3B of Aug, 18 and thereafter utilized the ITC. I opted for Composition levy w.e.f 1St October, 2018. The mistake was caught in the Month of April, 19. Is there any way to reverse the wrong ITC of CGST/SGST and claim ITC of IGST of the same amount to nullify my mistake?

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Prasad Royals   18 June 2019

Prasad Royals

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You reverse the ITC and pay interest 18%, and you can't claim ITC mean igst because it lapsed

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subhagan sreerangam   11 August 2019

subhagan sreerangam

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good clarification and information


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