ITC REVERSAL AS WELL AS INELIGIBLE ITC

ITC / Input 134 views 4 replies

SIR,

I WAS CLAIMED 148000/- ITC FOR IMPORT OF TAX AS REVERSED ITC AND ALSO SHOWN IN IN ELIGIBLE ITC 

NOW IT SHOWS AS DIFFERENCE, HOW TO SOLVE THIS.?

Replies (4)

IS CORRECT WHETHER I CLAIMED IN BOTH?

Why did you reverse ITC on IMPORT? IGST on Imports is allowable.

For Input tax credit (ITC) on imports no need to reverse it you can claim such ITC if you have paid the GST against it

Due to wrong claim of that in itc recverse and also ineligible itc both, it was reflected in tax liabilities comparision summary shown difference, march month till now not filed. any way or idea to adjust the same (i.e for the month of Nov.154307 igst reversed, now it shows the difference as higher than itc in 2A.  - itc availed in 3b      itc available in 2a    diff

                                                                            488377                      334070               154307  
 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register