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Regarding wrong itc in 3 b. but want to reverse in gstr 9

Rajiv (Senior Accounts Officer) (1548 Points)

14 June 2019

Namaskar Sir / Madam
Sir need your help. Sir I Have Taken wrong input tax credit in Gstr 3B in Month of July 2017.Sir not reverse these wrong Itc in any monthly return 3B and in f.y 2017-2018 , 2018-2019, 2019-2020 Sir just wanted to knew that how i will be reverse these wrong itc in Gstr 9 ???

example.

Itc In 3B in F.Y 2017-2018 = 10000

Wrong itc include in above amount = 2000

Sir these 2000 amount i was forgot to reverse these amount in any f.y 2017-2018,2018-2019,2019-2020. But i want to reverse these amount in Gstr 9 . So please guided me

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Sai Prabhu Narayanan (Articled assitant ) (161 Points)
Replied 14 June 2019

Hello Mr.Rajiv

You cannot reverse ITC which is excessively claimed in your GSTR-3B in GSTR -9 ,But You can Reverse the ITC excessively claimed. By filing form DRC -03 with the amount of itc excessively claimed, along with 24% interest in ,And you should mention in GSTR -9 (table no -7 Details of ITC Reversed and Ineligible ITC for the financial year) .