CAN WE REVERSE EXCESS ITC CLAIMED OF 2017-2018 THROUGH DRC 03

CAN WE PAY IT THROUGH ITC AVAILABLE IN CREDIT LEDGER.

I am a retailer and deals in sale of exempted supply for which i made exempted purchase but i received notice from department asking to reverse itc what to do how to give them reply is there any format to reply if any one have please provide me the format

Dear Experts

The differnce of ITC claimed in 3B and ITC Break up is equal to ITC reversed in 3B under table 4 B(1 & 2), as we claimed the ITC in Table 4 A(5) as auto populated figure + ITC reveres in previous month under table 4b (2)

In this situation what is the best solution to fill the Table 6 of GSTR-9.

thanks in advance for early reply

Even if the invoice is in the month of February for FY 2021-22, ITC in GSTR 2B is Rs. 8,450/ was not taken as ITC should not be taken as it was not received. That ITC FY 2022-23 in the month of April 2B Rs. 8,450/ so we claimed input.

FY 2021-22 Annual Return 9 Part III S.No.8C in Rs. 8,450/ shown as less ITC claimed. That means lower ITC is shown in 3B than ITC in 8A/2A.

But in FY 2022-23 Annual Return 9 Part III S.No.8C Rs. 8,450/ shows a negative balance. In this, if there is a negative balance, notices are coming from the department to make payment.

Can you kindly tell me what is the solution?

(1) I have purchased residential Flat through a Sale Deed dated 05 Oct 2023

(2) Builder entered into a “Development Agreement with General Power of ” with Land Owner for “Construction of a Multi storied building”

(3) Occupancy Certificate dated 16-08-2023 received,

(4) The said flat was purchased on 05 Oct 23 after receipt of the Occupancy Certificate dated 16 Aug 23.

(5) Builder is stating that as per Notification No. 4/2019 – Central Tax (rate) on 29th March 2019 which added fresh entries 41A & 41B to the Notification No. 12/2017 – Central tax (Rate) 28.06.2017 as per which Builder is liable to pay GST under Reverse Charge basis on Transfer of development rights which is applicable on sft sold even after obtaining Occupancy certificate.

(6) On a plain reading of the Act, the above sale is exempted and GST is not payable as per Para 5 of Schedule III and Clause (b) of Para 5 of Schedule II. Fresh Entries vide Sl.No.41A & 41B added to Table vide Notification No.4/2019 dated 29 March 2019 also exempted the above sale. But Builder is still insisting for payment of GST.





I, therefore, request your good self to kindly issue me the following clarifications:

(i) Whether GST is liable to be paid or not on the above residential flat purchased after receipt of Completion/Occupancy Certificate.

(ii) If need to be paid, Pl. specify the amount to be paid.

(iii) If GST is payable under reverse charge basis as per entries 41 A & 41 B of above Notification as stated by Builder, what is the status of exemptions allowed as per Para 5 of Schedule III and Clause (b) of Para 5 of Schedule II.

Thabking you

The payment for the suppliers not made within 180 days as per the GST Act for the FY 2017-18 and 2018-19. The payments were made after 180 days. Now the Audit officers issued the SCN to reversal of ITC for the non payment of suppliers within 180 days. But the payments already paid after 180 days (within 240 days). As on date there is no pending for the said years.
Please let me know if reversed the ITC for non payment within 180 days and the same is eligible for recredit after made the payment to suppliers.
Please clarify

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