Dear experts,
1. After reconciliation of GSTR 2A for the year 2017-18, we found few of our supplier had not filed the return.
2. few of invoice we had not claimed in that particular month.
Now how to reverse/and reclaim the above in GSTR?
is it falling under any rule like in GSTR 3B reversal table rule 42 and 43 or others?
is there any time limit to reclaim and reverse the same?
The same GST reversal and reclaim should be shown in income-tax current liabilities and current assets?
please confirm
thanks in advance.
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GST ITC REVERSAL/RECLAIM
Replies (9)
1. Ask ur suppliers to file their GSTR-1 otherwise there would be a mis-match and u might receive notice for the same
2. Claim it in Aug month GSTR-3B
So there is no need to reverse the ITC in ur case
2. Claim it in Aug month GSTR-3B
So there is no need to reverse the ITC in ur case
Tell your seller to file GSTR1.
if seller is not filing GSTR 1 till September month return than what to do?
Then dept can issue notice to both.. To supplier for non filing of return and to u for mis-match of itc claimed and 2A.. However, if u have valid purchase invoice then u dont hve to worry
Thankyou,
the below point is not cleared....
The same GST reversal and reclaim should be shown in income-tax current liabilities and current assets?
please help....
the below point is not cleared....
The same GST reversal and reclaim should be shown in income-tax current liabilities and current assets?
please help....
There is no reversal of ITC in ur case. And u are not reclaiming anything. U are just claiming ITC which u skiped earlier and now taking/claiming in aug's gstr-3B
it means it is not related to income tax Pandl, balance sheet?
In balance sheet, after reconciliation, either it will be GST payable or GST recoverable depending upon the tax paid and ITC claimed
Thank you for quick response.
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