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Wrong credit

23 March 2018

due to tran1 i have excess credit in cgst, from which i am not eligible for some amount, but how to reverse it, when i am trying to reverse it in gstr3b it will also reverse it in sgst, how to deal with it, so i can pay correct tax.

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4 Replies

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 23 March 2018

yes as per new format of 3b return it won't allow u reverse only CGST part , as soon as the value put under CGST it will automatically append the same value in SGST

Divakar (Student CA Final ) (11857 Points)
Replied 23 March 2018

Then don't utilise ineligible credit for the time being.. Wait for GSTR3... And pay ur tax correctly without utilising that ineligible credit

ICHITA LOHIYA (ca) (111 Points)
Replied 23 March 2018

ok, But it will utilize credit instead of having amount in cash ledger.

Divakar (Student CA Final ) (11857 Points)
Replied 23 March 2018

I am saying that leave that ineligible credit in ur itc ledger as it.. Don't utilise that credit against ur output tax liability and pay ur output tax liability accordingly if any