ITC Reversal

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Student
165 Points Posted on 20 October 2020
Please Help anyone.
Beause of businesss closure, Stock has been returned to the seller. How to show the same in GSTR-3B . As nil sales has happened and because of purchase return ITC is coming in -ve value.
Please suggest.
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On 20 October 2020 at 17:09 Report
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Quick Summary
This discussion addresses how to correctly report the reversal of Input Tax Credit (ITC) in GSTR-3B when stock is returned to the seller due to business closure. The user is seeking guidance on which specific column to use for reversing the ITC, as the purchase return has resulted in a negative ITC value.

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Confidential
177 Points Posted on 20 October 2020
U should reverse input taxes in gstr 3b
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On 20 October 2020 at 20:14
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Student
165 Points Posted on 23 October 2020
Please suggest under which column ?
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On 23 October 2020 at 16:00

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