GST ITC REVERSAL

Ajnas (Student) (844 Points)

17 February 2021

what is journal entry in books for excess input claimed but not reversed in GSTR3B till time closing books for the financial year

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CA SEEMA AGARWAL (Chartered Accountant) (414 Points)
Replied 17 February 2021

U can revert it in gstr 9 and pay gst accordingly

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (6515 Points)
Replied 17 February 2021

If part of the invoice is paid the ITC will be reversed on a proportionate basis. The ITC reversed has to be added to output liability.0

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