Can i adjust wrong itc claimed against right itc at present ?


PALASH RAKSHIT (PRACTICE)     22 May 2019

PALASH RAKSHIT
PRACTICE 
 148 likes  1898 points

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For the FY 2017-18, Excess ITC already claimed of Rs 16000/= ( approx ) by mistake OF DOUBLE ENTRY OF PURCHASE BILLS considered in GSTR 3B. But now at present as on 22/05/2019, Input Tax credit as per GST PORTAL is Rs 17000/= approx .

my question ?

1) What is the remedy to reverse the Input Tax credit already claimed by mistake of Rs 16000/= during FY 2017-2018 ?

2) Is there any time limit present for reverse the wrong ITC claimed during FY 2017-2018 ?

3) Can i adjust wrong ITC claimed For FY 2017-2018 against Correct ITC as on 22/05/2019 ? If yes , then how is it possible ?

 

Regards

avater

Srinivas Ch (Sr.Accountant)     22 May 2019

Srinivas Ch
Sr.Accountant 
 14 likes  255 points

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reverse in gstr9 along with interest payment from the excess claimed.


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