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Itc additional query treatment

Kollipara Sundaraiah (B.com) (3005 Points)

23 March 2021

A gst registered dealer itc credit books vs gstr2a difference additional credit -expenses accounting treatment in gst act.

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Rama chary Rachakonda (Master in Accounts & high court Advocate) (8656 Points)
Replied 23 March 2021

the vendor-wise reconciliation must be done on a regular basis. If not done, taxpayer must consider doing it before filing GST returns of September of FY following the relevant FY. This will help identify and declare any unclaimed ITC within the deadline.

Claim ITC belonging to a relevant FY, if not claimed earlier or reverse the ineligible ITC, if not identified and done earlier.
Match Table of exports at 6A of GSTR-1 vis-a-vis Corresponding declaration in GSTR-3B
Matching Table of exports at 6A of GSTR-1 vis-a-vis details of shipping bills submitted on ICEGATE
Comparison between Annual Income Tax Return with Annual GST return

Declaration of Turnover from Business(at PAN level)