E.KALAIKOVAN (Sr. Accounts Manager ) (339 Points)
31 August 2021In 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
Pankaj Rawat
(GST Practitioner)
(55032 Points)
Replied 31 August 2021
E.KALAIKOVAN
(Sr. Accounts Manager )
(339 Points)
Replied 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
(GST Practitioner)
(55032 Points)
Replied 02 September 2021
Yes in that case, can file drc 03 by setting of from your credit ledger. no need to depoist cash
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
