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ITC ENTERED WRONGLY IN NIL RETURN, Goods and Services Tax - GST

Issue Id: - 115335
Dated: 18-8-2019
By:- Manali Sharma
ITC ENTERED WRONGLY IN NIL RETURN

  • Contents

I am filing NIL RETURN of a client since 2017-18 , but in the F.Y. 2019-20 in GSTR-3B I have TAKEN ITC instead of NIL RETURN. what is the treatment for this?

Whether I will be liable to pay taxes?

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Posts / Replies

Showing Replies 1 to 7 of 7 Records

1 Dated: 18-8-2019
By:- Ganeshan Kalyani

Tax is payable on taxable supply. If you have any taxable supply then furnish the same and then take input tax credit. Further, pay net tax liability.


2 Dated: 18-8-2019
By:- Himansu Sekhar

You can write to jurisdictional officer and reverse the same. Final correction will be in annual return


3 Dated: 19-8-2019
By:- KASTURI SETHI

If your client deals in exempted outward supply only and there is no possibility of supply of outward taxable supply in near future, reverse the credit entry with out payment of interest. Credit reversed tantamounts to credit not taken, if not used.


4 Dated: 19-8-2019
By:- Ramesh Kothari

You hv to pay the tax with interest


5 Dated: 26-8-2019
By:- Hasmukh Patel

As per last High Court decision, if ITC is not utilized, then no require to pay interest on it. Only reverce ITC.


6 Dated: 2-9-2019
By:- Ganeshan Kalyani

Sir, please mention the name of the case law for easy reference of our readers.


7 Dated: 3-9-2019
By:- Himansu Sekhar

Commercial steel engg corporation. case = 2019 (7) TMI 1452 - PATNA HIGH COURT. In this case the reversal of the credit in TRAN-1 was done. Hon'ble Court held that the ITC was not availed by the party by mere entry in the TRAN-1


1

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