Itc reversal of oct 2017 in current 3b?

Originally posted by : Nitin Pawar
	Hello, Can we reverse the ITC now of which benefit was taken back in Oct/Nov-17 3B? Is there any restriction to adjust previous reversals like above? Kindly assist. Thanks, Nitin Pawar

As Per My Opinion You can reduced ITC Amount in May-Jun'18 GSTR-3B

But You are liable to apy interest @ 24 % on Wrong Claim ITC Amount 

In Present GSTR-3B  no option to mentioned wrong claim ITC interest Amount.

In  My Opinion you create & pay interest Amt.

Q1. Can we reverse this?

Q2. Is this applicable for export of services? As excess ITC is already available in out Credit Ledger.

Thanks in advance.

Originally posted by : Nitin Pawar
	Q1. Can we reverse this? Q2. Is this applicable for export of services? As excess ITC is already available in out Credit Ledger. Thanks in advance.

A.1   Yes

Q-2 Explain  of Purchase with export service & Credit ledger Balance Amt