Gstr 9
This query is : Resolved
22 August 2019
I had wrongly taken itc in f.y.2017-18 but later on reversed and corrected it in GSTR 3B in F.Y.2018-19.
However, while filing GSTR 9 of F.Y. 2017-18 where is it required to be reported i.e. in TABLE 7 or in TABLE 12 and how to tally TABLE 8. please reply at the earliest.
However, while filing GSTR 9 of F.Y. 2017-18 where is it required to be reported i.e. in TABLE 7 or in TABLE 12 and how to tally TABLE 8. please reply at the earliest.
23 August 2019
It will be shown in Table 8C and 13 of GSTR 9
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24 August 2019
It is not about ITC availed in next year, it is about reversal of itc in next year. So reporting can't be made in table 8c and table 13. Please help
24 August 2019
I am so sorry , missed the statement that ITC reversed in 2018-19
Aggregate value of reversal of ITC which was availed in the previous financial year but reversed in returns filed for the months of April to September of the current financial year or date of filing of Annual Return for previous financial year, whichever is earlier shall be declared in Table 12 of GSTR 9
Table 4(B) of FORM GSTR- 3B may be used for filling up these details.
Aggregate value of reversal of ITC which was availed in the previous financial year but reversed in returns filed for the months of April to September of the current financial year or date of filing of Annual Return for previous financial year, whichever is earlier shall be declared in Table 12 of GSTR 9
Table 4(B) of FORM GSTR- 3B may be used for filling up these details.
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24 August 2019
Thank you for the reply. Whether to show in table 7 and how to tally table 8? What about taxes and interest paid on that wrongly claimed itc?
27 July 2024
In GSTR-9, which is the annual return for a financial year, the correct reporting of ITC (Input Tax Credit) adjustments is crucial for accurate compliance. Here’s how to handle the situation where you had wrongly claimed ITC in FY 2017-18 and later reversed it in FY 2018-19:
### **Reporting Wrongly Claimed ITC in GSTR-9**
1. **Table 7 - ITC Details:**
- **Table 7A (ITC Availed):** This table should include the ITC that was claimed in FY 2017-18, as originally reported in your GSTR-3B and GSTR-1 for that financial year.
- **Table 7B (ITC Reversed):** Here, you should include any ITC that was reversed during FY 2017-18. This is where you will report the ITC you had incorrectly claimed and later reversed.
- **For your situation:** If the ITC was wrongly claimed and then reversed in FY 2018-19, it should still be included in Table 7B of GSTR-9 for FY 2017-18 as a reversal of ITC, because it was related to that financial year.
2. **Table 8 - ITC Claimed in the Current Financial Year:**
- This table should reflect the total ITC availed in the financial year 2017-18, including any adjustments made to the ITC claimed during that period.
- **To tally Table 8:** Ensure that Table 8 reflects the net ITC availed after accounting for any reversals or adjustments reported in Table 7B.
**Steps to Tally:**
- Add the ITC claimed in Table 7A.
- Subtract the ITC reversed (or adjustments) reported in Table 7B.
- The resultant amount should match the ITC reported in Table 8.
3. **Interest and Taxes on Wrongly Claimed ITC:**
- **Interest:** Interest on wrongly claimed ITC, if any, should be calculated based on the period between the date of wrongful claim and the date of reversal. However, since this relates to FY 2017-18 and you reversed it in FY 2018-19, interest should be calculated and paid according to the relevant provisions.
- **Payment Details:** Ensure that any interest and taxes related to the wrongly claimed ITC are paid and reflected properly in the relevant GST returns, such as GSTR-3B for FY 2018-19.
### **Steps to Correctly Report in GSTR-9:**
1. **Include Incorrect ITC in Table 7B:** Report the amount of ITC that was wrongly claimed in Table 7B of GSTR-9 for FY 2017-18. This should include ITC that was reversed in FY 2018-19.
2. **Verify Table 8:** Ensure Table 8 reflects the net ITC after adjustments. This will involve adjusting the initially claimed ITC by subtracting the reversed ITC from Table 7B.
3. **Pay and Report Interest:** If any interest is due on the wrongly claimed ITC, ensure it is paid and reported as per the GST rules for the relevant period.
4. **Consult Professional Help:** For accurate reporting and compliance, especially if there are complexities involved, consider consulting a GST practitioner or tax advisor.
By following these steps, you should be able to accurately report the wrongly claimed ITC in your GSTR-9 and ensure compliance with GST regulations.
### **Reporting Wrongly Claimed ITC in GSTR-9**
1. **Table 7 - ITC Details:**
- **Table 7A (ITC Availed):** This table should include the ITC that was claimed in FY 2017-18, as originally reported in your GSTR-3B and GSTR-1 for that financial year.
- **Table 7B (ITC Reversed):** Here, you should include any ITC that was reversed during FY 2017-18. This is where you will report the ITC you had incorrectly claimed and later reversed.
- **For your situation:** If the ITC was wrongly claimed and then reversed in FY 2018-19, it should still be included in Table 7B of GSTR-9 for FY 2017-18 as a reversal of ITC, because it was related to that financial year.
2. **Table 8 - ITC Claimed in the Current Financial Year:**
- This table should reflect the total ITC availed in the financial year 2017-18, including any adjustments made to the ITC claimed during that period.
- **To tally Table 8:** Ensure that Table 8 reflects the net ITC availed after accounting for any reversals or adjustments reported in Table 7B.
**Steps to Tally:**
- Add the ITC claimed in Table 7A.
- Subtract the ITC reversed (or adjustments) reported in Table 7B.
- The resultant amount should match the ITC reported in Table 8.
3. **Interest and Taxes on Wrongly Claimed ITC:**
- **Interest:** Interest on wrongly claimed ITC, if any, should be calculated based on the period between the date of wrongful claim and the date of reversal. However, since this relates to FY 2017-18 and you reversed it in FY 2018-19, interest should be calculated and paid according to the relevant provisions.
- **Payment Details:** Ensure that any interest and taxes related to the wrongly claimed ITC are paid and reflected properly in the relevant GST returns, such as GSTR-3B for FY 2018-19.
### **Steps to Correctly Report in GSTR-9:**
1. **Include Incorrect ITC in Table 7B:** Report the amount of ITC that was wrongly claimed in Table 7B of GSTR-9 for FY 2017-18. This should include ITC that was reversed in FY 2018-19.
2. **Verify Table 8:** Ensure Table 8 reflects the net ITC after adjustments. This will involve adjusting the initially claimed ITC by subtracting the reversed ITC from Table 7B.
3. **Pay and Report Interest:** If any interest is due on the wrongly claimed ITC, ensure it is paid and reported as per the GST rules for the relevant period.
4. **Consult Professional Help:** For accurate reporting and compliance, especially if there are complexities involved, consider consulting a GST practitioner or tax advisor.
By following these steps, you should be able to accurately report the wrongly claimed ITC in your GSTR-9 and ensure compliance with GST regulations.
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