Dear expert,
Please clarify following doubt.
1. Gstr3B last month ITC report wrongly claimed in Inward supplies received from ISD instead of RCM input. How to rectify it to next month.
Thanks in advance.
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GSTR 3B ITC wrongly claimed
Replies (5)
If ITC which has been claimed is utilized then need to reverse along with interest @ 18% in further months and can claim the same under RCM.
If ITC which has been claimed is not utilized, then reverse the same in further months under ISD head and claim the same under RCM head.
Thanks for your reply. ISD reverse option not given in GSTR3B how to report . please reply
No need to reverse anything. Just show the correct classification in Annual Return. This is because of the fact that you were ultimately eligible for ITC and the mistake was in classification. ITC ultimately credited to credit ledger. No interest since no reversal
Reverse if you have ISD credit in next month, if not reverse it by filing DRC-03
Agree with Altamush. Reversal not required through DRC-03. Although, dept. may issue communication as there is no ISD related credit in GSTR 2A/2B, ensure information and proof is available for response.
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