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Reverse Excess ITC claimed

J Bilal (28 Points)

27 October 2021  
Respected Experts. I have wrongly taken GST ITC for F / Y 2020-2021 year. Wrongly taken ITC CGST: 5,00,000 SGST: 5,00,000. September 2021 GST 3B not filed. Augest 2021 Closing Balance ITC CGST: 1,54,900 SGST: 12,60,400. My question is, if I win, can I deduct 1,54,900 from CGST and 8,45,100 from SGST?
(Low amount in CGST and high amount in SGST). I beg you to tell me a way on how to match ITC.

 2 Replies

Rajendra Prasad (Employee Private) (557 Points)
Replied 28 October 2021

No way. You have to pay balance CGST in CASH.

1 Like

CS Abhishek Goyal (M Com FCS LLB M-AIMA ) (10311 Points)
Replied 28 October 2021

you have to make payment in CGST head of the balance amount left over after reversal.

1 Like

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