TMI BlogAdditional Reversal of Ineligible ITC in Table 7E of GSTR-9X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Members, Please guide whether we can do additional reversal of ineligible ITC thru Table 7E of Form GSTR-9 . This ITC was earlier availed in monthly return Form 3B during 2017-18 but was not reversed till date. Para 3 of the Trade Advisory Dt. 26.08.2019 says:- Further, no input tax credit can be reversed or availed through the annual return. If taxpayers find themselves liable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for reversing any input tax credit, they may do the same through FORM GST DRC-03 separately. In view of this, what would be the correct way to reverse the ineligible ITC and give proper disclosure in either GSTR-9 or 9C . Thanks Regards CA. Tapan Rai - Reply By atul rathod - The Reply = It is preferable to show in table 7 of GSTR-9 include such reversal of ITC in taxes pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able (table 9)-there would be difference in taxes payable taxes paid which would be discharged through DRC-03 . In GSTR-9C figures would be attracted from 7J of annual return which will be after the above reversal. - Reply By TAPAN RAI - The Reply = Sir, Thank you for your reply. I still have a doubt regarding the clarification given in the Trade Advisory that no input tax credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can be reversed or availed through the annual return . Would it be okay if we deposit the difference thru DRC-03 and give suitable remarks in the Certification part of GSTR-9C. Kindly advise. Thanks Regards CA. Tapan Rai - Reply By KASTURI SETHI - The Reply = Notification no.74/18-CT dated 31.12.18 (serial no.9 above Table No.17) says that any differential amount of tax i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to be paid in cash through DRC-03 . How to be shown in GSTR 9 C has been rightly explained by Sh.Atul Rathod. - Reply By TAPAN RAI - The Reply = Thank you Rathod Sir and Sethi Sir for your kind guidance. - Additional Reversal of Ineligible ITC in Table 7E of GSTR-9 - Query Started By: - TAPAN RAI Dated:- 19-9-2019 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nowledge 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
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