excess claim of itc for fy 19-20 to be reversed in gstr3b of fy 20-21
or drc o3 can be used
which is the right approach
Reversed in GSTR-3B of FY 20-21
3 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 13 August 2020
Till September 2020 you can reverse in GSTR 3B , but after month September need to Reverse any such ITC need to furnish DRC 03 .
Note : In my view best approach is to file DRC 03 . because if you do Reversal in 3B of Fy 2020-21 , you need to prepare Reconciliation statement for FY 2020-21 also when you file Annual return for Fy 2020-21
Note : In my view best approach is to file DRC 03 . because if you do Reversal in 3B of Fy 2020-21 , you need to prepare Reconciliation statement for FY 2020-21 also when you file Annual return for Fy 2020-21
PUNISH CHAUDHARY
(PROP)
(62 Points)
Replied 14 August 2020
Thanks for ur input, one more thing such reconciliation require 9c filing if turnover below applicability limit or gsrt 9 only
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