GST CREDIT related

nirmal paliwal (ipcc) (76 Points)

24 July 2021

In the books gst credit extra shown in ledger compared can extra gst written off in books of account

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4 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 24 July 2021

If no excess ITC has actually been availed as per return and the excess is only as per books, then you need to reverse the excess ITC in the books.

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 25 July 2021

You have to reverse such ITC either in next month GSTR-3B or you can also reverse through DRC-03.

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 25 July 2021

Reverse such extra ITC in next return

Imthias ahamed Kormath (910 Points)
Replied 26 July 2021

If it paid by u , in any bills,may b block,and may claim as refund.

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