We claimed ITC for tax paid for a machinery imported in 2018-19. We have wrongly claimed it as a domestic purchase instead of import. We have now received a message from GST that we have claimed excess ITC for domestic purchases. What can we do to resolve it ? Thanks in advance.
Menu
Itc credit wrongly mentioned as domestic purchase instead of import
Replies (2)
reverse it and claim credit in import igst column
In your next month reduce the same in value of ITC for that month & add it in the Import Row.
Recent Threads
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
Related Threads
CAclubindia
