Menu
Excess ITC Claimed.
Excess ITC Claimed in FY 2018-19 of ₹ 12000/- How it correct?
Replies (9)
Excess ITC claimed? i think you must have claimed your ineligible itc, Try to reverse the same before filing your annual return or by making payment of the same.
Excess ITC claimed? i think you must have claimed your ineligible itc, Try to reverse the same before filing your annual return or by making payment of the same.
Not ineligible ITC, but clerical mistake (typing error).This claim still remains 2018-19.It reverse which month and year.
Reverse itc with interest
| Originally posted by : subhagan sreerangam | ||
 |
Not ineligible ITC, but clerical mistake (typing error).This claim still remains 2018-19.It reverse which month and year. |  |
Reverse with Interest
You can reverse the same in any month before filing the annual return or at the time of annual return by making a payment through DRC-03 with interest @ 24% p.a. from the day immediately next to the date on which tax was due to the date of Actual payment.
This. claim is actual but taken in advance by mistake of clerical error.
You can reverse the same in the next month while filing your GSTR 3b with interest ( if you have any ITC available in your EC -ledger) if no claim is available then you have to make payment of the excess utilised ITC .by creating a new challan under others ( so that it will not get off setted)
The claim ie eligible,but in advance ie August month claim taken in July.
Recent Threads
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
Related Threads
CAclubindia
