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Wrong input taken in GSTR3B?

UMESH (ACCOUNT EXECUTIVE) (57 Points)

11 March 2018

wrongly excess input taken in GSTR3B, can we rectify it subsequent month by reversal?

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9 Replies

Anmol Singla (808 Points)
Replied 11 March 2018

yes you can rectify in subsequent month by putting excess ITC in ITC reversal

Anil Chowdary Karanam CA (student) (119 Points)
Replied 11 March 2018

yes you can rectify accordingly

RAJA P M ("Do the Right Thing...!!!") (127074 Points)
Replied 11 March 2018

Yes...
You can rectify and Reversal the excess ITC...

UMESH (ACCOUNT EXECUTIVE) (57 Points)
Replied 11 March 2018

when GSTR2 AND GSTR3IS OPEN FOR FILLING

Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 11 March 2018

do not worry you can reversal excess itc next gst 3b but you should pay interest

RAJA P M ("Do the Right Thing...!!!") (127074 Points)
Replied 11 March 2018

Originally posted by : UMESH
	when GSTR2 AND GSTR3IS OPEN FOR FILLING

Wait on further notifications from CBEC... As per my own view GSTR 2 and 3 will be not available FY 17-18. But, Wait.

Sridevi (Accountant) (380 Points)
Replied 12 March 2018

You can check RECOMMENDATIONS GST COUNCIL 26TH MEETING 10.03.2018 where they have mentioned that GSTR1 and GSTR3B have been extended upto June 2018. But, they have not mentioned about GSTR2 and GSTR3. Hope, GSTR2 and GSTR3 will not be implemented from April 2018.

It is not sure whether they will be implemented or not.

Regards

neha shah (Employed ) (26 Points)
Replied 13 March 2018

In my case i have wrongly taken input credit of IGST...I am know my tax liability...so to avoid interest if i make the payment today and in future will rectify my mistake then interest liability will be applied at that time??

More clearly it is like i was filling return for Feb-18 and i have wrongly taken credit of Rs3330 and i know my actual tax liability is Rs.475 so shall i pay Rs475 today to avoid interest in future ??