Ineligable itc availed but not not reversed - treatment in gstr 9

Hello,

                First you need to reverse the ITC claimed with interest of 24% and pay the amount through form DRC-03,Then in GSTR-9 table 7 mention the ITC claimed as Itc reversed . in reversal column

Dear Sai Prabhu I have similar problem. But wrong ITC was not used as set off against gst payable. Wrong ITC was just an entry in GSTR3B. In that case do we have to pay interest. GST was paid every month whatever due. Please suggest.

Hello Mr. Manoj  

                              In this case , I need some more information  i.e ,Month of claiming the ITC , and whether have a paid you tax liability with ITC in any of the month after claiming the ITC , Then only we can make a move regarding this issue ,If you have made Payment in aforesaid manner then ,I think that you must reverse the ITC in the manner mentioned in this thread above ..

 

But Sir Table 7 refers to ITC reversed and ineligible ITC as declared in the return filled during the financial year.. Soo Do you really think is it the right place show that as they haven't reversed it during any return of 17-18 or till March 19.. I will make the payment through DRC -03 with interest but confused with how to treat this in anual return and GSTR 9C

To the best of my knowledge ,I think we can park it in Table 7 , In drc -03 there would be a column which would prompt you for which year your are making voluntary payment in that section you must select  F.y 2017-18 and elaborate the Instance like which month ,cgst,sgst,payment . this is the only way to reverse it.

Dear Sai Prabhu

I could not find this link, so I posted details in separate post with attachment of all details, please go to this link and guide.

https://www.caclubindia.com/forum/itc-wrongly-shown-in-gstr3b-but-not-utilised-as-setoff-517390.asp

Regards

Manoj Punjabi