Reporting of reclaimable reversal
Mohan Kale (358 Points)
09 February 2024Mohan Kale (358 Points)
09 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 09 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 10 February 2024
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 10 February 2024
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 11 February 2024
There is no section or rule where the opening balance is to be reported.
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 11 February 2024
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 11 February 2024
GSTN is no authority and the word advisory speaks for itself that it is not mandatory.
However to avoid litigation one might fill the opening balances
But even though it is not filled then also ITC cannot be denied if taken in time and reclaimed after reversal.
Mohan Kale
(358 Points)
Replied 11 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 12 February 2024
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 12 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86308 Points)
Replied 12 February 2024
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)