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ITC got claimed again

PRABHAKAR LAL (186 Points)

16 November 2024

If ITC was taken for the September 24 bill, and it got autopopulated in October too, due to not matching, ITC got claimed again, how to fix it? I am very worried, 3B of October 24 has been filed.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (6311 Points)
Replied 16 November 2024

Here's a step-by-step plan to help you resolve the issue:

1. Identify the excess ITC claimed: Calculate the excess ITC claimed in October 2024 due to the autopopulation error.

2. File an amendment: File an amended return for October 2024 (Form 3B) to correct the ITC claim. You can do this by: - Logging into the GST portal - Selecting the "Amendment" option - Correcting the ITC claim - Submitting the amended return

3. Pay additional tax (if applicable): If the excess ITC claimed has resulted in a lower tax liability, you may need to pay additional tax. Calculate the additional tax due and pay it through Form DRC-03.

4. File a declaration: File a declaration in Form GST DRC-03A, stating that the excess ITC claimed was due to an autopopulation error and that you're voluntarily paying the additional tax (if applicable).

5. Keep documentation: Maintain detailed documentation of the error, corrective actions taken, and any communication with the tax authorities.

6. Remember to act promptly to avoid any potential interest or penalties. The GST authorities may take a lenient view if you proactively correct the error and pay any additional tax due.

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PRABHAKAR LAL (186 Points)
Replied 16 November 2024

Very very thanks sir

sabyasachi mukherjee (27636 Points)
Replied 18 November 2024

Nit an issue post details

CS Advocate Abhishek Goyal (M Com FCS LLB M-AIMA ) (13788 Points)
Replied 18 November 2024

You can reverse the excess claimed in next 3B.

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