Can Net ITC Available be negative in GST?

Dear Experts,

As I claimed excess ITC in the previous month, I want to reverse the excess amount in this month’s GSTR3B. But, after the reversal ‘Net ITC Available’ becomes negative and after filing this GSTR3B so my ITC balance in the Electronic Credit Ledger would be Rs. 21000/-. Can I reverse the total excess amount resulting in negative ‘Net ITC Available’?  

Replies (3)
Quick Summary
This discussion addresses whether the 'Net ITC Available' can be negative in GST when reversing excess Input Tax Credit (ITC) claimed in a previous month. The consensus is that while the reversal might temporarily show a negative 'Net ITC Available' on the GSTR3B, the actual balance in the Electronic Credit Ledger will remain positive. It clarifies that the system prevents the ITC balance from becoming negative, ensuring compliance.

Is the 21k is negative figure...?!

RAJA P M, No Sir. It is in positive figure. If I file GSR3B with negative Net ITC Available, the ITC balance in Electronic Credit Ledger will be Rs. 21000.

ITC balance in the Electronic Credit Ledger would be Rs. 21000/-

Read more at: https://www.caclubindia.com/forum/can-net-itc-available-be-negative-in-gst--542739.asp?message=MESSAGE%20MODIFIED#reply
ITC balance in the Electronic Credit Ledger would be Rs. 21000/-

Read more at: https://www.caclubindia.com/forum/can-net-itc-available-be-negative-in-gst--542739.asp?message=MESSAGE%20MODIFIED#reply
Can You write Your values here for both months..?

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