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ITC REVERSAL

mohan (Tax Consultant ) (181 Points)

10 April 2018

I filed September month 3B. wrongly I was claimed ITC IGST AMT 588966 how can I adjust that kindly advise to US. we never purchase interstate purchase how can I reverse ITC give me step by step guidelines

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3 Replies

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 10 April 2018

plz write ur query in detail at vjindal1989 @ gmail.com

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Dhananjay saraf (Chartered Accountant) (254 Points)
Replied 10 April 2018

You can show the amount in 'Other reversal' (Table 4 (b)(2)) in GSTR-3B of the current month.

This will nullify the effect of earlier mistake and your ITC will get reduced

Dharmendra Kumar (0 Points)
Replied 10 April 2018

Suppose Ineligible credit was taken in tune of Rs 80,000 and now I want to reverse it. By filling 'other reversal ' (Table 4 (b)(2)) in GSTR 3B, equal amount has to be filled in CGST as well as I SGST. However, credit was taken only for Excise (erstwhile). Please help.