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Wrong credit

ITC / Input 170 views 4 replies

ICHITA LOHIYA

111 Points Joined May 2017

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.

Replies (4)

Pankaj Rawat

GST Practitioner

55067 Points Joined June 2017

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 Joined May 2015

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

111 Points Joined May 2017

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

Divakar

Student CA Final

11857 Points Joined May 2015

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