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Construction of building expenses wrongly claimed as Input
if we construct a buliding and expenses like cement purchased for construction which logically should be capitalised in fixed assets ledger in tally but claimed that gst part as Input in Gstr3B. Now what to do ? whether reversing the same input we claimed in Gstr3B input tab is the right solution for it or something else?
Replies (4)
Quick Summary
Yes, you have to reverse same ITC from next GStr3b and if input exhaust then pay to the govt.
See dear ,
Can u plz tell when have u taken such wrong credit ???
if u tell me this i would able to give u a more comprehensive n better answer
Can u plz tell when have u taken such wrong credit ???
if u tell me this i would able to give u a more comprehensive n better answer
Yes sure from Nov 2019 onwards till June 2020
In ur consequent gstr 3b returns take less credit equal to amount of wrong credit u have taken. if u dont do this ,when ur gstr 9 will b filed then u have to pay this amount of wrong credit with heavy amount of interest.
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