Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

EXCESS ITC CLAIMED MARCH 22-23

akhilesh tiwari (private worker) (240 Points)

22 April 2023

Dear Sir
I have taken excess ITC by mistake in the return of Gstr3B month of March 23-23 and the table of itc has also showed red what should I do in this case please help me.

Reply
Follow
Share

4 Replies

Sandeep Jain (Pivate) (1459 Points)
Replied 22 April 2023

Reverse the ITC in next month when you file 3B

Upgrade to CAclubindia Pro. Subscribe Now!

akhilesh tiwari (private worker) (240 Points)
Replied 22 April 2023

Sir due to this the portal has become red is there any chance of notice

Sandeep Jain (Pivate) (1459 Points)
Replied 23 April 2023

No, If you can reverse the itc in subsequent month,s retuen .

Sneha Latha (Senior Assistant) (218 Points)
Replied 24 April 2023

Reverse the ITC in subsequent month GSTR-3B, and if the excess claimed ITC is utilized for payment of outward liability then Interest on the same is also required to be discharged.