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ITC Reversal Paid in 3.1 Outward Supplies instead of ITC Reversal in 4B
Dear Sir, I was reconciling books and returns of my client it was observed that my staff has mistakenly reversed ITC (added amount) in table 3.1 instead of ITC Reversal in table 4B which was wrongly excess claimed in previous month on 2 bills due to clerical mistakes. Now my question is how can I solve this issue and if it is to be less paid in current month in GSTR-3B and paid by DRC-03 then will interest applicable becouse it was not utilised till wrongly payment in wrong head.
Replies (5)
Either correct it in current month 3B or reversed through DRC-03. No interest applicable if ITC not utilised.
If it belongs to same financial year then correct through GSTR-3B
If the error is of previous financial years then reverse through DRC-03.
No interest if not utilized
It can be easily corrected thru gstr 3B
Dear Respected Members, It is already paid in 3.1 means Outward Supply instead of ITC Reversal in table 4B. how can settle this values in front of ITC.
Deduct the amount from sales, and show it in ITC reversed column.
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