GST Annual Return with Reclaimed ITC

This query is : Resolved

M Sairam (Querist)
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29 December 2022 Dear Experts,
My colleague reversed a claimed ITC of 3,04,402 (Double the actuals) instead of 1,52,201 and then again did the mistake of reversal of excess reversed amount instead of reclaiming Hence now the situation is we have an ITC amount of 3,04,402 which is need to reclaim due to mistake in reversal. Actual confusion is whether can i claim these excess reversed ITCs even if the due date for claiming ITC as per sec 16 has lapsed.

Kindly let me know with supporting GST pronouncements. Thanks in advance.

Dipesh

Dipesh (Expert)
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30 December 2022 You have to avail/re-claim in GSTR-3B on or before 30/11/2022, now the opportunity is missed. But you can avail refund under type "Excess payment of tax" but you have to prove to authority valid reason of reclaim this ITC and this ITC is not in category of ineligible.