REVERSAL OF ITC FY 2023-24

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Accountant
144 Points Posted on 11 November 2024
If excess ITC claimed in F.Y 2023-24 then what is the last date to reverse this ITC?
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On 11 November 2024 at 11:26 Report
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If you've claimed excess Input Tax Credit (ITC) in the Financial Year 2023-24, the deadline to reverse it is the earlier of September 30, 2024, or the filing of your Annual Return (GSTR-9) for FY 2023-24. This date is critical for timely GSTR-3B filing.

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SEO Sai Gr. Hosp.
212453 Points Posted on 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.
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On 11 November 2024 at 11:34
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Accountant
144 Points Posted on 11 November 2024
But 30 September 2024 changed to 30 November 2024
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On 11 November 2024 at 11:37
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SEO Sai Gr. Hosp.
212453 Points Posted on 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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On 11 November 2024 at 12:21

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