REVERSAL OF ITC FY 2023-24
Ramit (Accountant) (142 Points)
11 November 2024
If excess ITC claimed in F.Y 2023-24 then what is the last date to reverse this ITC?
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 11 November 2024
As per GST laws in India, if excess Input Tax Credit (ITC) is claimed in FY 2023-24, the last date to reverse this ITC would be:
September 30, 2024, or
Filing of Annual Return (GSTR-9) for FY 2023-24, whichever is earlier.
Ramit
(Accountant)
(142 Points)
Replied 11 November 2024
But 30 September 2024 changed to 30 November 2024
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 11 November 2024
Yes, correct. This deadline is crucial for compliance with the GSTR-3B return filing for October 2023, which is due on November 20, 2023.
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