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ITC reversal issue
How to take ITC in subsequent when ITC reversed on the account of non payment within 180 days by adding to output tax liabilities.
Replies (13)
did you add it to output tax in GSTR-3B??
no I am going to add to output tax liabilities with interest. Then how I will avail benefit when I after paying to creditor that's I want to know.
Claim it under as ITC under table 4(A)(5)
thank you...........
reason for reversal has to be known and subsequent remedial measures.
I don't think to add credit reversal to output tax in table 3 but reverse in Table 4 under other reversals and avail input credit in Table 4 after making payment of tax
sujit you can always add credit reversal.
add it now and pay the taxes and after you pay your creditors you can claim it back as input tax credit
@ Sujith Kumar , Sabyasachi
As per the provisio in section 16 of GST, read with Rule 37(2) act , it's to be added to Output Tax Liability if not paid within 180 Days & As per Rule 37(2) reversal need to be done in GSTR .2, but as of now it's not being in force , so reversal is to be shown under table 4(b)(2) of GSTR 3b
**
As per the provisio in section 16 of GST, read with Rule 37(2) act , it's to be added to Output Tax Liability if not paid within 180 Days & As per Rule 37(2) reversal need to be done in GSTR .2, but as of now it's not being in force , so reversal is to be shown under table 4(b)(2) of GSTR 3b
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agree with pankaj sir's view.
The following cases should be considered also:
if partial payment is made reversal will be proportionate to the amount not paid to the supplier.
As per Sec 16(2), the recipient later makes the payment to the supplier.
If supplier has paid full tax to the government.
if partial payment is made reversal will be proportionate to the amount not paid to the supplier.
As per Sec 16(2), the recipient later makes the payment to the supplier.
If supplier has paid full tax to the government.
Yes, I agree with you, even I was telling same to reverse in Table 4 and don't add to liability under Table 3
The question of Interest does not applicable here, if u have not availed so far.
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