ITC reversal and reclaim

Why, in the first place, would you reverse GST?

In August month, you will not claim ITC for the goods that you haven't received. You will claim ITC only when you have received the goods and you have the Invoice, which in your case, is in the month of September. So you will Claim ITC in the September period.

Yes, Correct. There will be unclaimed ITC reflecting under 2B in the month of August which can be claimed under 3B in the month of September. And then it will automatically get tallied.

Originally posted by : Jitendra Peshwani
	Yes, Correct. There will be unclaimed ITC reflecting under 2B in the month of August which can be claimed under 3B in the month of September. And then it will automatically get tallied.

correct option

Even if you get notice under DRC-01B, you can reply and explain in that notice that you have claimed, Unclaimed ITC of previous month and there would be no problem, because it is genuine ITC.

Please go through circular 170/02/2022-GST, Dt.06th July 2022, where it has been clarified that any reclaimable ITC related to the ITC available in Form GSTR 2B has to reverse in Table 4(B)(2). And while availing ITC has to sum-up with Table 4(A)(5) and also has to report in Table 4(D)(1).

Yes do the same..with the new DRC-01C coming into effect the option to claim - reverse - reclaim is the better option