Laltha Zuala (148 Points)
26 April 2023
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 26 April 2023
While filing GSTR-3B, show this under ITC reversal tab. You can show it under table 4(B)(1).
But, If you are having good business, I would advice you to take opinion of your tax consultant/CA before reversing the same.
Regards
CA Sandesh Mahipal
Laltha Zuala
(148 Points)
Replied 27 April 2023
If I reverse it in GSTR3B, will I have to pay it in cash? Or the credit ledger balance will be simply deducted by the same amount?
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 27 April 2023
Arun Kumar Singh
(GST Advocate)
(15188 Points)
Replied 28 April 2023
At the time of filing of GSTR-3B the said inalienable ITC you need to reverse.
CAclubindia
