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’?
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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