A client is registered in Maharashtra and Gujarat. A Gujarat contractor did works at the client's Gujarat site but reported the invoices in GSTR-1 against the client's Maharashtra GSTIN as IGST (POS Maharashtra). The invoices appeared in the Maharashtra GSTR-2B and the client claimed the IGST ITC in GSTR-3B.
The supplier has now amended these invoices in GSTR-1 to the client's Gujarat GSTIN as CGST+SGST, and they show in the Gujarat GSTR-2B. However, the Maharashtra GSTR-2B shows no reversal or negative entry for the amendment.
Queries:
1. Should the Maharashtra GSTIN reverse the IGST manually in GSTR-3B Table 4(B)(2) (permanent, not to be reclaimed), or pay through DRC-03?
2. The credit ledger balance always stayed above the amount wrongly claimed. Is interest nil under Rule 88B?
Thanks in advance for your guidance.
Menu
ITC reversal after supplier amended the recipient GSTIN in GSTR-1
Replies (1)
Manually reverse the ineligible IGST ITC permanently via GSTR-3B Table 4(B)(2) under the Maharashtra GSTIN, and claim the correct CGST+SGST ITC under the Gujarat GSTIN (subject to matching GSTR-2B availability). Interest under Rule 88B is nil as the electronic credit ledger balance never fell below the wrongly claimed amount.
Recent Topics :
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
Related Topics :
CAclubindia
