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Advisory Against Excess ITC

ITC / Input 379 views 4 replies
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student
5205 Points Posted on 25 January 2020

One of my client got excess ITC notice as he has filed late GSTR 3B Actually even he has excess ITC of more than 200000

but he has got notice of payment of 356017

please help me in this matter

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On 25 January 2020 at 16:48 Report
Replies (4)
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Studwnt
1141 Points Posted on 25 January 2020
Excess ITC need to be reversed and extra interest @ 18% has to. be paid
14 Reply
On 25 January 2020 at 16:54
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student
5205 Points Posted on 25 January 2020

there is no excess ITC He has balance of 206000 in electronic credit ledger

8 Reply
On 25 January 2020 at 16:58
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accountant
178 Points Posted on 25 January 2020
I also got this..but i dont think it will matter as by 31st jan all supplier will file their gstr1 and input will show in gstr2a..this is my opinion..and i ask experts what they say regarding this issue?
1 Reply
On 25 January 2020 at 17:27
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student
5205 Points Posted on 25 January 2020
But they didn't consider the ITC
8 Reply
On 25 January 2020 at 23:09


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