Reversal of excess RCM claimed

RCM 218 views 3 replies

I had claimed excess ITC against RCM and in my recent GSTR-3B i reversed it in 4A(3) showing negative value but as per Tax liability & ITC comparison chart downloaded from GST portal, this reversal is not showing any impact in these statements.

Please suggest how do i revert it ?

Thanks in advance !

 

Replies (3)

You have to pay RCM liability in Cash only , meaning thereby only through Electronic Cash ledger , without availing ITC . 

Thank you Mr Prasad !!

You may less claim this differential RCM amount in next GSTR 3B and pay interest on the said excess RCM ITC.


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