Dear sirs,
I couldn't remit tax as per my gst statement of account because of
some wrong credits accumulated
as the B2B suppliers did not upload
the bills in time but later. Can i rectify
the itc now so as to enable me to remit
tax for last Dec. 22 and Jan 23.
Andrews A. X. from Kochi, Kerala
5 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 14 March 2023
Yes, You Can reverse the wrongly taken Input tax credit in the month of Dec 22 and Jan 23 with interest now and also you have to pay taxes with interest for same period in current return .
Andrews Xavier
(55 Points)
Replied 14 March 2023
Sir, in fact i tried to reverse in Dec and Jan, but autopopulated figures could not be rectified. pl. tell me what is the procedure. Andrews from Kochi 🙏🏻
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 14 March 2023
Reverse wrongly taken ITC in February 23 month return (GSTR3B) , with interest, and whatever sales invoices not filled of Dec 22 and Jan 23 you report in GSTR1 February 23 return, and pay the taxes with interest in GSTR3B.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 14 March 2023
I hope you have taken wrong ITC in the month of Dec22 and Jan 23 through GSTR3B , therefore you have reverse now with Interest
Andrews Xavier
(55 Points)
Replied 14 March 2023
Even though I have filed the GST-R3B, i couldn't remit
tax because the itc credit was set off.
tax because the itc credit was set off.
Recent Topics
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
Related Threads
CAclubindia
