TMI BlogExcess ITC Claimed & Reversed in same FY, reporting dilemma in GSTR9?X X X X Extracts X X X X X X X X Extracts X X X X ..... Hello Sir, I have wrongly availed ₹ 700 ITC in GSTR-3B (All other ITC) then reversed next month in 3B within same FY by showing ₹ 700 under Reversal Others Column. In Table 6 of GSTR-9 the ITC availed my total ITC is ₹ 2000 (including above 700) as it captures Table 4A data of GSTR-3B . I put the breakup here as ₹ 2000 under Inputs in table 6 put reversal in Tab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le 7. But in Table 8, diff between ITC as per 2A (₹ 1300) ITC as per data fetched from Table 6 (₹ 2000) shows negative value of ₹ 700 as the value i put under reversals in Table 7 doesn't have effected here. What to do in such a case? Can i reduce the figure in table 6 as input claimed is ₹ 1300 and do not show anything in Table7? Although there will be difference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in table 6 but table 8 will be matched in such a case. (Although it might have impact on GSTR-9C i suppose). Please suggest which one is better option. Thanks regards. - Reply By Padmanathan Kollengode - The Reply = You have two options, Option 1 is to show 2000 in Table 6 and 700 in Table 7. In this case, there will be a difference in table 8 but it would not matter, as that diffe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rence is already reversed. Option 2 is to show net 1300 in Table 6. In this case, there will not be any difference in Table 8. Personally, I would prefer the first option as I feel it is the correct disclosure as per instructions to GSTR-9 - Excess ITC Claimed & Reversed in same FY, reporting dilemma in GSTR9? - Query Started By: - Kush Lodha Dated:- 23-2-2022 Goods and Services Tax - G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ST - Got 1 Reply - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
