VAT credit taken through Tran-1.
Such credit been utilised for setting of liability till July 2018.
Later in August 2018 it was identified that the credit of Tran-1 was wrongly taken nd the same was reversed in gstr-3b.
Till today it is not reversed in Tran-1 reversal.
Can such reversal b done in GSTR-9?
If reversed do i have to pay in cash all the credit taken and interest on it?
Menu
Tran-1 credit reversal
Replies (1)
No if the reversal is done in GSTR 3b , no need to pay tax on same .
As per Circular 58/32/2018 , reversal of any wrong credit avail by Tran 1 can reverse in GSTR 3b , under table 4 (b)(2)
As per Circular 58/32/2018 , reversal of any wrong credit avail by Tran 1 can reverse in GSTR 3b , under table 4 (b)(2)
Recent Topic
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
Related Topics
CAclubindia
