Under section 65(6) Audit observation we have been called upon to reverse ITC lying in the credit ledger of our RC that was cancelled su moto in Nov 21. As we have no option to file GSTR3B after Nov 21, it is suggested by some that this can be done through DRC 3. Is this correct view . Will be obliged to get help here.
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Reversal of ITC lying in Credit ledger when GST RC is cancelled
Replies (3)
1. If ITC remained due to difference in liability declared under GSTR-3B then file annual return first and then pay liability through DRC-03.
2. If liability was in respect of input belongs to stock held by you on date of closing then file final return and then pay liability.
2. If liability was in respect of input belongs to stock held by you on date of closing then file final return and then pay liability.
thanks a lot fr the guidance
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