Can the ITC be reversed instantly ?
Is DRC-03 enough ?
In which month it will add to the liability ? Current month or past month carry forward ?
You can reverse the ITC in the next month GSTR 3B without any payment through DRC 03
4 Replies
JASKARAN SINGH
(430 Points)
Replied 03 March 2022
U can reverse Itc in 3b by filing 4 no table..... don't add this liability to the monthly liability.... show it separately with 4b table
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 05 March 2022
Okay..There is option of reversal of ITC & other ITC column .
Do we need to pay interest on ITC reversal ?
Do we need to pay interest on ITC reversal ?
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