Can the ITC be reversed instantly ?
Is DRC-03 enough ?
In which month it will add to the liability ? Current month or past month carry forward ?
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ITC Reversal Under GST through DRC-03
Replies (4)
Quick Summary
You can reverse the ITC in the next month GSTR 3B without any payment through DRC 03
It's December ITC
U can reverse Itc in 3b by filing 4 no table..... don't add this liability to the monthly liability.... show it separately with 4b table
Okay..There is option of reversal of ITC & other ITC column .
Do we need to pay interest on ITC reversal ?
Do we need to pay interest on ITC reversal ?
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