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excess credit taken in gstr 3b

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41 Points Posted on 11 August 2018
Due to Oversight We have Taken Excess  ITC in GSTR - 3B for MAR 18 and it is also already Reflected in Electronic Credit Ledger.

ques:- how to reverse it?

Is This Mistake is Punishable ???   OR  any Penalty / Interest will be Imposed on Us ???

Please give advice 
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On 11 August 2018 at 09:08 Report
Replies (10)
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115 Points Posted on 11 August 2018
Reverse the itc with the interest @ 24% in next month GSTR 3b
1 Reply
On 11 August 2018 at 10:03
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41 Points Posted on 11 August 2018
what entries to be passed in the books. if any credit/debit note to be issued.
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On 11 August 2018 at 10:21
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115 Points Posted on 11 August 2018
Pls explain the scenario.. How you have taken excess credit and wat entry you passed for the same in books
1 Reply
On 11 August 2018 at 10:28
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96 Points Posted on 11 August 2018
Take less in current month as per difference
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On 11 August 2018 at 10:48
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41 Points Posted on 11 August 2018
one extra purchase voucher was included...due to which excess itc of rs.1,00,000 have taken and it is also already reflected in electronic credit ledger...now what to do?
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On 11 August 2018 at 11:45
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96 Points Posted on 11 August 2018
Take less credit in next month
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On 11 August 2018 at 11:46
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24196 Points Posted on 12 August 2018
Less the excess credit with next month ITC and show it in 3B
161 Reply
On 12 August 2018 at 11:22
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7059 Points Posted on 23 September 2018
rectify the error in the current month GSTR 3B
33 Reply
On 23 September 2018 at 20:24
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96 Points Posted on 23 September 2018
Take all itc before 20th oct
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On 23 September 2018 at 20:39
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7059 Points Posted on 04 August 2019
good clarification and information
33 Reply
On 04 August 2019 at 18:30


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