Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

ISD input consider

kanhaiyalal parmar (24 Points)

01 December 2023

if the ISD input for the month of November was 40 and in 3B considered 100

can we reverse it in December 3B?

Reply
Follow
Share

2 Replies

Jamil Ahmed (615 Points)
Replied 03 December 2023

Yes, it can be reversed with interest if already utilised

Money Money (383 Points)
Replied 04 December 2023

If you have availed more input tax credit (ITC) from the input service distributor (ISD) than the actual amount in the GSTR-3B return, you can reverse the excess amount in the next month’s GSTR-3B return. You can do this by reducing the ITC available from ISD in Table 4(A)(4) of GSTR-3B by the excess amount and reporting the correct ITC amount in Table 4(B)(1) of GSTR-3B12. You should also ensure that the ITC reversal is reflected in your books of accounts and the GSTR-2A or GSTR-2B report.