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Is ITC set off with Credit ledger
R/ Sir can we setoff iTC with credit ledger while filling GST return 9 I claimed the ITC credit wrongly in GST return 1
Replies (3)
What?
ITC can not be claimed in GSTR-1
if you have claimed ITC wrongly then reverse it through Form DRC-03 before filing of GSTR-9 with interest of 24% per annum.
For the amount of wrong ITC, you can use your credit ledger, but for 24% interest you must have to pay through your bank account.
ITC can not be claimed in GSTR-1
if you have claimed ITC wrongly then reverse it through Form DRC-03 before filing of GSTR-9 with interest of 24% per annum.
For the amount of wrong ITC, you can use your credit ledger, but for 24% interest you must have to pay through your bank account.
1 hope is here you can try many more try including me ..
if you pay excess laibility in 17-18 (not claiming ITC) I m taking about output laibily shown excess then you file your gstr 9 in correct value . after it fiLE RFD-01 (EXCESS PAYMENT OF TAX ) and attach your relevant doc
if you pay excess laibility in 17-18 (not claiming ITC) I m taking about output laibily shown excess then you file your gstr 9 in correct value . after it fiLE RFD-01 (EXCESS PAYMENT OF TAX ) and attach your relevant doc
Gstr 1 form is for to report Outward Supply .
So if you have claimed the excess ITC in GSTr 3B , then need to PAY IN CASH LEDGER & set off by filing DRC -03
Note : Cannot set-off from credit ledger (Refer Notification 74/2018 CT)
So if you have claimed the excess ITC in GSTr 3B , then need to PAY IN CASH LEDGER & set off by filing DRC -03
Note : Cannot set-off from credit ledger (Refer Notification 74/2018 CT)
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