Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

itc regarding

ravee chand (B.Com) (59 Points)

08 August 2019

if I claimed itc in 3b more than 2a what will do in in annual return? please help me

Reply
Follow
Share

4 Replies

Prasanth Surya (student) (65 Points)
Replied 08 August 2019

Need not worry about it.Such extract in GSTR9 is only for information purposes for the Government.

Upgrade to CAclubindia Pro. Subscribe Now!

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 08 August 2019

1) prepare reconciliation statement for your info

2) you have reverse wrongly claim ITC and pay tax with interest through DRC03 in cash .

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 08 August 2019

please confirm with others also.

Anand Tak (47 Points)
Replied 08 August 2019

if itc is claimed excessive than u have to pay with int. @ 18% from the date u claim its till the date of payment and if you have claimed less credit for fy 2017-18 than your credit has lapsed but if relevant to fy 2018-19 u can avail its in any month till sep 2019