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GSTR 9 ITC MISMATCH

Sandeep Tayal (46 Points)

02 February 2020

what to do when itc takend and party has not deposited tax and its not showing in gstr2-A ??

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7 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 February 2020

Difference will be payable through DRC-03...

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CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 02 February 2020

If you have valid invoice then keep claiming itc. Ask the party to file GSTR-3B

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Ashraf Ali (30 Points)
Replied 02 February 2020

If it small amount use drc 03. other wise take it and keep the invoice and payment details

Anshuman Basu (account -GST) (1556 Points)
Replied 03 February 2020

Pl tell me the interest calculation method of DRC 03

Karan Khatri (4 Points)
Replied 03 February 2020

Party has not paid gst amt to the government. than who will be liable for diff. of itc amt?
if we have all the invoices then still i am liable to reverse gst amount?

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CA Altamush Zafar (GST Consultant) (15971 Points)
Replied 03 February 2020

If party has not paid tax to the government then the recipient is also liable to reverse his credits as per law. But it is expected that this provision will be contested in court of law very soon.

Karan Khatri (4 Points)
Replied 03 February 2020

My turnover is not cross the limit of 2 cr. i have taken itc of 140000 and 140000 cgst n sgst respectively and my gstr 2A only show 27000 , 27000 amt of itc so now am i liable to reverse my itc with the intrest amt?
actually i have taken itc earlier on the purchase bases and i am regular tax payer.
My question is what should i do?