Reversal of igst

As per law, any rectifications to returns for FY 2017-18 can be rectified till Mar-19 return only. Since Mar-19 is already filed you cant rectify it through GSTR-3B. you can rectofy it only through GSTR-9, show excess availment in HSTR-9 and pay the amount through DRC-03. Interest @ 24% p.a. for excess availment needs to be paid if input is alrwady utilised. please nite if input is not yet utilised you can adjust payable against input in DRC-03

Yes needs to pay by filing DRC 03 ,
(Interest can be paid later on)

yes after March there is no way to revert it through GSTR-3B, now have to reverse it DRC-03 With interest @ 24%

Dear Sir I agree with your views thanks. Only the point of interest rises in case of utilisation, is it so? Since I have not utilised the same and have sufficient credit ledger balance will this be liable to interest? The amended section 50 provides relief for interest payments in case of credit setoff.

Thanks I just also want to know what should I select in form DRC03 whether reversal on voluntary basis or annual return. So that my GSTR9 & DRC03 doesnot differ.