Wrong credit availed in Excise how to reverse the same in GST?, Goods and Services Tax - GST

[Yatin Bhopi]

We have wrongly availed excise duty credit in the month of May 2017 and same has been reflected in May 17 ER-1. now we want to reverse the wrong credit.

I tried to reverse the credit in GSTR-3B in table 4, under column B, ITC reversed 2) Others. I inserted reversible amount in CGST column (since Trans Credit pertaining to excise and service tax had been reflected in CGST. but when I input figure in CGST, portal automatically posting the same figure in SGST column and not allowing to delete figures in SGST due to this reversible figure is getting dabbled.

Please let me know whether it is correct to reverse the excise duty credit in said column? if not please let me know correct method for reversing excise duty in current regime

Posts / Replies

[CS SANJAY MALHOTRA]

Dear Yatin,

Please go through circular no 42/2018 - CGST. Further note that utility is being developed to take care of reversal of disputed / wrongly carry forward of ITC cases, where liability will hit to CgST account for excise / service tax and accordingly payment can be made.

[Yatin Bhopi]

Sir thanks for your valuable replay. just gone though the circular and GST portal. as I understand such credit need to be recorded in Part II of Form PMT-01.

On the portal Services->Ledger->Electronic Libility ledger->Part II, I think they are only for view and not for making payment \ reversal.

I am Not able to see any option for entry or making payment

[Manoj Kumar]

Sir, you can reverse from IGST Credit Column.

[Yatin Bhopi]

That will be wrong

[DR.MARIAPPAN GOVINDARAJAN]

In my view it is to be paid along with interest.

[Yatin Bhopi]

Sir,

We want to revese the credit our own with interest but we are unable to find a way to reversed. Since interest amount will keep growing up day by day please guide us.