ITC claim and reverse matter

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14 Points Posted on 26 October 2021
1.Claim ITC - 40800
Reverse ITC- 7000
Net ITC - 33800


2.Claim ITC - 33800
Reverse ITC- 0
Net ITC - 33800



we know that 1st type is correct but if someone do 2nd type is it not acceptable?
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On 26 October 2021 at 11:52 Report
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Quick Summary
This discussion clarifies the correct way to handle Input Tax Credit (ITC) claims, especially when reverse charges are involved. It addresses a scenario where ITC was claimed incorrectly and suggests rectifying it in the next GSTR-3B filing. For past periods, like 2017-18, the advice is to show the excess claim as a reversal under 'ITC others'.

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GST Consultant
15986 Points Posted on 26 October 2021

Your question is not clear as to how ITC will get reduced in case RCM ITC is shown.

You can correct the mistakes in your next GSTR-3B

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On 26 October 2021 at 17:20
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14 Points Posted on 26 October 2021
7000 ITC excess claim previous month which should be reverse and it's matter 2017-18 so we can't do anything now.
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On 26 October 2021 at 17:25
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GST Consultant
15986 Points Posted on 26 October 2021

Show it in reversal of ITC others

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On 26 October 2021 at 17:35

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