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Reversal of Itc In Gstr 9

Return 520 views 6 replies

Ubaid Ghori

12 Points Posted on 10 June 2019

Itc Cliamed mistakely in 2017-18 how to Reverse in Gstr-9?

Replies (6)

Manisa

student

103 Points Posted on 10 June 2019

You should have reversed it in March 2019 month's return as there is no provision of reversing ITC in annual return

Kishor Lulla

1011 Points Posted on 10 June 2019

itc can b reversed in gstr9... part,v clmn 12

DARSHIT RATHOD

27 Points Posted on 10 June 2019

PART V , CLMN 12? WHERE IT IS?

Pankaj Rawat

GST Practitioner

55067 Points Posted on 10 June 2019

Report ITC as per Books in table 6. & deposit the wrongly claimed ITC with Interest 24% by filing DRC 03.

Note : DRC 03 has to be setoff against the Cash Ledger only

Nishant shah

AUDIT ASSISTANT

302 Points Posted on 11 June 2019

Can't it reverse in table no.7(H) ?

Manoj Punjabi

Accountant

381 Points Posted on 13 June 2019

Sir I have similar query, excess ITC claimed in 17-18, but this was not used, the said amount kept aside while paying monthly GST. the excess amount remained as credit balance every month.

Now in April-19 we reversed this amount, to avoid its use.

What shall we do now while filing return GSTR9.

Regards

Manoj Punjabi