E.KALAIKOVAN (Sr. Accounts Manager ) (340 Points)
31 August 2021In Accounting Software, Bills and Credit note both are accounted. But in GSTR3B, ITC from Bills only shown, Credit note are not shown. GSTR9 also filed. The difference of the ITC from ECL and GL is Credit note. Now the difference is to be adjusted in GSTR3B.
What is the consequence and how to solve the issue?
Thank you
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 31 August 2021
E.KALAIKOVAN
(Sr. Accounts Manager )
(340 Points)
Replied 02 September 2021
Thank you sir,
Service provided @ 5% but Services received @ 18%. So we have Excess ITC. We are planning to apply ITC Refund.
As excess ITC available, why Cash is to be deposited and file DRC. We can reduce the ITC balance (Rectify Now)?
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 02 September 2021
Yes in that case, can file drc 03 by setting of from your credit ledger. no need to depoist cash
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