if the ISD input for the month of November was 40 and in 3B considered 100
can we reverse it in December 3B?
Menu
ISD input consider
Replies (2)
Quick Summary
Yes, it can be reversed with interest if already utilised
If you have availed more input tax credit (ITC) from the input service distributor (ISD) than the actual amount in the GSTR-3B return, you can reverse the excess amount in the next month’s GSTR-3B return. You can do this by reducing the ITC available from ISD in Table 4(A)(4) of GSTR-3B by the excess amount and reporting the correct ITC amount in Table 4(B)(1) of GSTR-3B12. You should also ensure that the ITC reversal is reflected in your books of accounts and the GSTR-2A or GSTR-2B report.
Recent Topics :
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
Related Topics :
CAclubindia
