Notice to reverse the ITC till March 2021

Notice to reverse the ITC till March 2021

We have received the notice from the GST office to reverse the ITC up to 19 lakhs from July-17 to Mar 21. As per their notice we have a shot reverse of the ITC to the extent of Rs 19.10 Lakhs.Same requested to reverse immediately under DRC-03.

Please guide us how to reverse the same for FY 2020-21.

Replies (4)
Quick Summary
A GST notice has been issued requiring the reversal of Input Tax Credit (ITC) amounting to approximately 19 lakhs, covering the period from July 2017 to March 2021. The notice mandates immediate reversal and payment through DRC-03. This discussion highlights the significant tax amount involved and strongly advises seeking professional expert advice for reconciliation, replying to notices, and making the demand payment to avoid potential penalties.

Notice involved huge amount of Tax. Instead of asking question like these platforms, better to take service of an Expert.

Those are not the actual figures. This portal will help to get the expert advice. When we ask question it will help one or the other. 

Kindly do the reconciliation and submit to department.

For reply of notices and payment of demand take professional advice

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