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Use of Drc 03

asif shaikh   19 September 2019

asif shaikh

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can I use gst itc credit ledger balance of August 2019 to payment of wrongly taken itc of 2017/18 and 2018/19 through Drc 03.please guide.

prasad Nilugal (Accountant and GST Practitioner . )     19 September 2019

prasad Nilugal
Accountant and GST Practitioner .  
 309 likes  4640 points

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1)No  ,  I don,t  think  so. you have to pay in cash only 

2) You  have  reverse  the ITC  in Table 7H (1)  of GSTR 9 ( see  help section in Table 7  of GSTR 9) 

3) Payment  in cash  ledger 

4) File  DRC03  for set off  

please  confirm with  others also . 


Pankaj Rawat (GST Practitioner)     19 September 2019

Pankaj Rawat
GST Practitioner 
 3423 likes  46436 points

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Yes you can Setoff by balance .in Credit Ledger also.
It's only in Annual return for FY 2017-18 , the set-off is to be done by cash ledger only

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