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E.KALAIKOVAN (Sr. Accounts Manager )     31 August 2021

Electronic Credit ledger and GL difference

In Accounting Software, Bills and Credit note both are accounted. But in GSTR3B, ITC from Bills only shown, Credit note are not shown. GSTR9 also filed. The difference of the ITC from ECL and GL is Credit note. Now the difference is to be adjusted in GSTR3B.

What is the consequence and how to solve the issue?

Thank you

 



 3 Replies

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     31 August 2021

Deposit in cash ledger & file DRC 03 .
I (nterest applicable @ 18% in term of Section 50)
E.KALAIKOVAN

E.KALAIKOVAN (Sr. Accounts Manager )     02 September 2021

Thank you sir,

Service provided @ 5% but Services received @ 18%. So we have Excess ITC. We are planning to apply ITC Refund. 

As excess ITC available, why Cash is to be deposited and file DRC. We can reduce the ITC balance (Rectify Now)?

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     02 September 2021

Yes in that case, can file drc 03 by setting of from your credit ledger. no need to depoist cash

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