Excess ITC Claimed.
subhagan sreerangam (7054 Points)
19 November 2019
Excess ITC Claimed in FY 2018-19 of ₹ 12000/- How it correct?
9 Replies
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 19 November 2019
Excess ITC claimed? i think you must have claimed your ineligible itc, Try to reverse the same before filing your annual return or by making payment of the same.
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 19 November 2019
Excess ITC claimed? i think you must have claimed your ineligible itc, Try to reverse the same before filing your annual return or by making payment of the same.
subhagan sreerangam
(7054 Points)
Replied 19 November 2019
Not ineligible ITC, but clerical mistake (typing error).This claim still remains 2018-19.It reverse which month and year.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 November 2019
| Originally posted by : subhagan sreerangam | ||
 |
Not ineligible ITC, but clerical mistake (typing error).This claim still remains 2018-19.It reverse which month and year. |  |
Reverse with Interest
Dilip Bhandarkar
(Student)
(55 Points)
Replied 20 November 2019
You can reverse the same in any month before filing the annual return or at the time of annual return by making a payment through DRC-03 with interest @ 24% p.a. from the day immediately next to the date on which tax was due to the date of Actual payment.
subhagan sreerangam
(7054 Points)
Replied 20 November 2019
This. claim is actual but taken in advance by mistake of clerical error.
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 20 November 2019
You can reverse the same in the next month while filing your GSTR 3b with interest ( if you have any ITC available in your EC -ledger) if no claim is available then you have to make payment of the excess utilised ITC .by creating a new challan under others ( so that it will not get off setted)
subhagan sreerangam
(7054 Points)
Replied 24 November 2019
The claim ie eligible,but in advance ie August month claim taken in July.
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