Excess paid GST can be adjusted with excess claim ITC

Originally posted by : sabyasachi mukherjee
	Post gst paid visavis itc claimed

My Dear Great Mr Sabyasachi Mukherjee,

What You understand this query...???

In the scenarios you've described, whether you can adjust the excess claimed Input Tax Credit (ITC) against the excess paid tax depends on the specific tax rules and regulations in your jurisdiction, which are typically defined by the country's tax authority. Here's a general approach to these situations:

1. Excess Tax Paid: If you've paid more tax than your actual liability (as in your first example where you paid INR 1000 but your liability was only INR 900), you usually have the option to either get a refund for the excess amount or carry it forward as a credit against future tax liabilities.

2. Excess ITC Claimed: In the second scenario where you've claimed more ITC than you are entitled to (INR 600 claimed against an available INR 500), you might need to adjust this in your next tax filing by either reducing your future ITC claim or paying back the excess amount, depending on the rules.

Adjusting excess ITC against excess tax payment directly isn't typically standard procedure. Usually, these two aspects of tax payments and credits are handled separately:

• Tax payments relate to the actual tax dues based on taxable transactions.
• ITC claims are based on the tax paid on inputs and are used to offset the tax payable on sales or services.

For more specific details on GST registration and related tax regulations, you should consult the tax authority's guidelines or a local tax consultant. They can provide precise instructions based on local tax laws and regulations.

Originally posted by : sabyasachi mukherjee
	Excess paid gst can be adjusted with itc

How it's ...???

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Dear Experts 

I have one quarry regarding the stock item so the question is that there are 5 fixed asset in tally which is entered as stocks item in 2022 to 2023 and it was carryforward in 2023 to 2024 now how can i remove from stock item because we couldn't sale purchase in theses items so what was the solution of it 

in tally prime 

and one more thing because of these five items my stock in tally shown to much 

and am attaching the pdf 

fixed assets marked as red color 

please help

StkSum.pdf

Originally posted by : Sonu Sahani
	Dear Experts  I have one quarry regarding the stock item so the question is that there are 5 fixed asset in tally which is entered as stocks item in 2022 to 2023 and it was carryforward in 2023 to 2024 now how can i remove from stock item because we couldn't sale purchase in theses items so what was the solution of it  in tally prime  and one more thing because of these five items my stock in tally shown to much  and am attaching the pdf  fixed assets marked as red color  please help StkSum.pdf

Dear,

Please ask it in separate forum...

Then only the first query is alive.