banner_ad

excess credit taken in gstr 3b

Return 392 views 10 replies
User Avatar

41 Points Posted on 11 August 2018
Due to Oversight We have Taken Excess  ITC in GSTR - 3B for MAR 18 and it is also already Reflected in Electronic Credit Ledger.

ques:- how to reverse it?

Is This Mistake is Punishable ???   OR  any Penalty / Interest will be Imposed on Us ???

Please give advice 
Reply Share Follow
On 11 August 2018 at 09:08 Report
Replies (10)
User Avatar

115 Points Posted on 11 August 2018
Reverse the itc with the interest @ 24% in next month GSTR 3b
1 Reply
On 11 August 2018 at 10:03
User Avatar

41 Points Posted on 11 August 2018
what entries to be passed in the books. if any credit/debit note to be issued.
Reply
On 11 August 2018 at 10:21
User Avatar

115 Points Posted on 11 August 2018
Pls explain the scenario.. How you have taken excess credit and wat entry you passed for the same in books
1 Reply
On 11 August 2018 at 10:28
User Avatar

96 Points Posted on 11 August 2018
Take less in current month as per difference
Reply
On 11 August 2018 at 10:48
User Avatar

41 Points Posted on 11 August 2018
one extra purchase voucher was included...due to which excess itc of rs.1,00,000 have taken and it is also already reflected in electronic credit ledger...now what to do?
Reply
On 11 August 2018 at 11:45
User Avatar

96 Points Posted on 11 August 2018
Take less credit in next month
Reply
On 11 August 2018 at 11:46
User Avatar

24196 Points Posted on 12 August 2018
Less the excess credit with next month ITC and show it in 3B
161 Reply
On 12 August 2018 at 11:22
User Avatar

7059 Points Posted on 23 September 2018
rectify the error in the current month GSTR 3B
33 Reply
On 23 September 2018 at 20:24
User Avatar

96 Points Posted on 23 September 2018
Take all itc before 20th oct
Reply
On 23 September 2018 at 20:39
User Avatar

7059 Points Posted on 04 August 2019
good clarification and information
33 Reply
On 04 August 2019 at 18:30


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details