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Treatment of wrong ITC claimed in annual return

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Tide

Accountant

94 Points Posted on 20 January 2020

ITC on a restaurant invoice was claimed in September 2017 by mistake. This ITC has not been reversed till date. It has been claimed in the books of accounts too.

How to reverse this in GSTR9. In table 7? How to show payment through DRC-03?

Thank you.

Replies (3)

Quick Summary

This discussion addresses how to rectify incorrect Input Tax Credit (ITC) claims made in annual returns, specifically the GSTR9. It explores the process of reversing ITC mistakenly claimed in September 2017, including how to show this reversal in Table 7(H) of the GSTR9 and make the necessary payment via DRC-03. The advice suggests depositing the amount in the cash ledger and then setting it off. The conversation also touches on applying similar reversal procedures for other instances of wrongly claimed GST.

Pankaj Rawat

GST Practitioner

55067 Points Posted on 20 January 2020

Reverse in showing Under Table 7(H) & deposit the same in cash ledger & set-off by filing DArC 03

Tide

Accountant

94 Points Posted on 20 January 2020

Thank you!

The same treatment to be given for excess GST claimed wrongly otherwise too? For eg., GST number was not given to party in July 17. Table 7H for reversal?