Input credit reversal 9/9c

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180 Points Posted on 20 December 2022
wrongly taken input credit for the FY 2021-22 can it be corrected in ANNUAL RETURN 9/9C?. Can such credit be adjusted against standing credit in electronic credit ledger?
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On 20 December 2022 at 23:12 Report
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This discussion addresses correcting wrongly claimed input tax credit (ITC) for FY 2021-22. It clarifies that such credit must be reversed and paid via DRC-03 with interest, and then reported in the Annual Return (GSTR-9). The consensus is that this reversal cannot be done using the electronic credit ledger balance but requires payment through the cash ledger.

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GST Practitioner & Accounts
15146 Points Posted on 21 December 2022
You have to reverse, such wrongly taken credit in F.Y 21-22 and pay through DRC03 with interest and show it in Annual return F.Y 21-22 .
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On 21 December 2022 at 06:32
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33 Points Posted on 21 December 2022
ITC Not claimed, . But I have ineligible ITC so can I reversal in 9?
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On 21 December 2022 at 11:39
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18 Points Posted on 21 December 2022
In gstr 9 in table no 8f
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On 21 December 2022 at 12:07
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180 Points Posted on 21 December 2022
Thank you all... but such credit can we reverse using credit balance in input tax ledger
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On 21 December 2022 at 14:53
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GST Practitioner & Accounts
15146 Points Posted on 22 December 2022
No , only through Cash ledger. ( payment in Cash only)
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On 22 December 2022 at 12:20

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