Wrongly utilised itc how to reverse

420 views 4 replies

In last month 3B, instead of utilising cash for payment of GST liability we have wrongly utilised ITC balance. (ITC balance is of business whereas GST liability was for rental income)

Cash payment was already done. so we have cash balance 

How to rectify.

Replies (4)
I can't understand your query...

Why you can't utilise ITC...???
What are the income/business by You...???

Business is of manufacturing. Since it is proprietary we have to levy Gst on rent also. 
All itc is for the business purposes. 
 

ITC may be reversed using subsequent month GSTR-3B
It can be easily reversed

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 29 June 2026
Article Assistant

Alvino Consultancy LLP

Mumbai

CA Inter

View Details