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Reversal of GST

ITC / Input 175 views 3 replies

Jitendra Kumar Sahu

Account Manager

106 Points Joined May 2010

I have taken input of GST on March, 19 and paid to the supplier on March,2020. I have also file our 3B return till Jan,2020 without any reversal of ITC.
As i am the defaulter of not payment to supplier within 180 days what can i do now. What should be the action taken by me now.

Please suggest.

Thanks.

Replies (3)

CA Garima

Assistant Manager

118 Points Joined February 2014

Any adjustment in ITC availed or reversal can be made upto due date of September of following month or due date of annual return.
So according to my point of view you can reverse itc related to month of march 2019 in annual return of 2018-19 since you already filed return of September 2019.

Pradeep Gupta

Accounts Manager

298 Points Joined January 2010

ITC to be reversed...due to non fulfilling the criteria for availing ITC.
Since reversal is possible till due date of September month return filing or Annual return filing (whichever is earlier).
Hence, ITC to be reversed...which will be paid in cash including interest.