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Reversed ITC

03 August 2019

Sir
In Which case if Supplier has quite the whole business. Not filed the GSTR returns.no attaned phone calls. but due to none filing the return by supplier we have reversed the ITC through GSTR-3B. how to adjust the same in books

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8 Replies

Shweta Gupta (Assistant Manager) (224 Points)
Replied 03 August 2019

just booked expense like you don't avail ITC credit of that expense.

subhagan sreerangam (7039 Points)
Replied 03 August 2019

good clarification and information

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 04 August 2019

Input Tax Credit

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 04 August 2019

Pass following entry in your books of account : Purchase /Expenses A /C Dr To Input Tax A/C. Cr

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Naveen Kumar (629 Points)
Replied 04 August 2019

Sir whole amount or only input tax value

Sahil Bhatia (Practicing Chartered Accountant) (290 Points)
Replied 04 August 2019

Suppose the purchase was of Rs.100 and 18% IGST

At the time of Purchase you might have entered this entry
Purchase A/c Dr 100

IGST A/c Dr 18

To Creditor A/c 118

Now when you want to reverse the Input claimed above use the following entry
Purchase A/c Dr 18 (only the amount of tax)
To IGST A/c 18

Just for your Information : Delhi High Court held that GST not paid by supplier will have no implication on input claimed by receiver. So you need not reverse the ITC in my opinion if you are registered in state of Delhi

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