Reversal of GST

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Account Manager
106 Points Posted on 09 May 2020

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.

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On 09 May 2020 at 14:50 Report
Replies (3)
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Assistant Manager
118 Points Posted on 09 May 2020
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.
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On 09 May 2020 at 23:33
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Accounts Manager
298 Points Posted on 10 May 2020
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.
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On 10 May 2020 at 02:34
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GST Practitioner
55067 Points Posted on 11 May 2020
Deposit interest for the same .
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On 11 May 2020 at 01:40


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