Home Forum Goods and Services Tax - GST Month 7 2023 2023 (7) This
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Reversal of wrongly availed ITC - Goods and Services Tax - GSTExtract A Registered Person (RP) has availed ITC based on the invoices issued by his Suppliers. However, after investigation by the Department, it was found that the said ITC was wrongly claimed without supply of goods. The RP has agreed to pay the availed and utilized ITC in cash and paid the same by debiting the Electronic Cash Ledger. The query now is, how to deal with ITC availed but not utilized. Whether the same can be reversed by debiting Electronic Credit Ledger or should the same be paid in cash by debiting Electronic Cash Ledger. Any CBIC Circular in this matter. Thanks.
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