Caclubuser (Accountant) (98 Points)
17 February 2020Dear Experts,
As I claimed excess ITC in the previous month, I want to reverse the excess amount in this month’s GSTR3B. But, after the reversal ‘Net ITC Available’ becomes negative and after filing this GSTR3B so my ITC balance in the Electronic Credit Ledger would be Rs. 21000/-. Can I reverse the total excess amount resulting in negative ‘Net ITC Available’?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 February 2020
Caclubuser
(Accountant)
(98 Points)
Replied 17 February 2020
RAJA P M, No Sir. It is in positive figure. If I file GSR3B with negative Net ITC Available, the ITC balance in Electronic Credit Ledger will be Rs. 21000.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 February 2020
CAclubindia
