Additional Reversal of Ineligible ITC in Table 7E of GSTR-9

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Additional Reversal of Ineligible ITC in Table 7E of GSTR-9
Query (Issue) Started By: - TAPAN RAI Dated:- 19-9-2019 Last Reply Date:- 21-9-2019 Goods and Services Tax - GST
Got 4 Replies
GST
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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 payable (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 TAP .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... AN 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 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 is 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.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X