ITC on credit note

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Quick Summary
This discussion addresses how to claim Input Tax Credit (ITC) on an IGST credit note when there are no corresponding IGST sales for the period. While you can enter the credit note details in GSTR-1, GSTR-3B currently doesn't allow for negative liability entries. Options discussed include amending previous invoices or waiting for future GSTR-3B updates that may accommodate negative values.

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60 Points Posted on 23 August 2022
I have enter credit not in gstr1 and gate 1 show nagative liablity of igst
1 Reply
On 23 August 2022 at 14:33
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Chartered Accountant
86505 Points Posted on 23 August 2022
Yes option to feed negative value is not available in GSTR-3B, same will be incorporated in 3B within 1-2 months. Till that date you don't have any option.
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On 23 August 2022 at 19:53
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60 Points Posted on 24 August 2022
I have taken ITC in 3b ????
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On 24 August 2022 at 11:59
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Chartered Accountant
86505 Points Posted on 02 September 2022
But you have to reverse it otherwise notice may be issued for difference in 2A & 3B
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On 02 September 2022 at 21:19
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CFO- at NHTF
58280 Points Posted on 02 September 2022
It must reflect in 2B to claim ITC
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On 02 September 2022 at 22:27
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Chartered Accountant
86505 Points Posted on 03 September 2022
How it can as practically it is not input
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On 03 September 2022 at 08:24
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CFO- at NHTF
58280 Points Posted on 03 September 2022
That's why I said to go for invoice amendment
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On 03 September 2022 at 09:41
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Chartered Accountant
86505 Points Posted on 03 September 2022
I also replied that earlier , here querist ask for ITC , so I replied it. Why you have to put your fingers in all queries
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On 03 September 2022 at 12:22

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