if i have claimed excess credit in feb 18 nd reverse it in may 18 in which column it will reflect in gstr
9
7 Replies
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 14 August 2019
Under Table 7( H ) & under table 12
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 14 August 2019
Dear Padmahas
Why not in table 7(H) ,
The total of Table 7J of GSTR 9, going to be autopopulated in Table 12(E) & 14(S) of GSTr 9C , if we do not show the reversal in 7J , the difference need to be clarify in 9C & moreover the querist has already rectified the same in his 3B for May 18 .
Why not in table 7(H) ,
The total of Table 7J of GSTR 9, going to be autopopulated in Table 12(E) & 14(S) of GSTr 9C , if we do not show the reversal in 7J , the difference need to be clarify in 9C & moreover the querist has already rectified the same in his 3B for May 18 .
Padmahas Niwas
(ca)
(251 Points)
Replied 15 August 2019
sir, it will not be reported in point 7 as it was not reversed in same FY. The clarification will be given in GSTR 9C. Further, guidance note of ICAI also says it.
logic behind it : if someone has utilised whole of the ITC in same FY and reversed it in next FY, then obviously point 9 of GSTR 9 will get mismatched. suppose tax payable for the FY is 100 and ITC is 90 out of which 30 get reversed in next year. point 9 will show 100 get paid with 90 ITC and 10 cash, where as due to 30 reported in point 7 it will show that only 60 (90-30)ITC was available, and it will be contradictory.
logic behind it : if someone has utilised whole of the ITC in same FY and reversed it in next FY, then obviously point 9 of GSTR 9 will get mismatched. suppose tax payable for the FY is 100 and ITC is 90 out of which 30 get reversed in next year. point 9 will show 100 get paid with 90 ITC and 10 cash, where as due to 30 reported in point 7 it will show that only 60 (90-30)ITC was available, and it will be contradictory.
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 15 August 2019
IN REGARD TO INWARD SUPPLY TABLE 12, OF GSTR 9, IT IS JUST FOR INFORMATION PURPOSE. IT DOES NOT REDUCE THE ITC THEREIN & IN 9C OF TABLE 12 & 14, THE FIGURE IS TO MATCH WITH TABLE AUTO POPULATED FROM TABLE 7J.
SO THERE YOU WILL GET THE DIFFERENCE . SO WHY SHOW SUCH DIFFERENCES IN 9C
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 15 August 2019
CLARIFICATION BY ICAI IN THE BOOK RELEASE "TECHNICAL GUIDE ON ANNUAL RETURN", IT HAS FOCUS ON OUTWARD SUPPLY & CORRESPONDING TAX WHICH HAS BEEN REPORTED IN FY 18-19 PERTAINING TO FY 17-18 NEEDS TO BE REPORT IN TABLE 10,11 OF GSTR-9, IN CASE OF ITC IT IS TO BE REPORT IN TABLE 7(H) (ITC DECREASE),OR 8C (ITC INCREASED) & IN TABLE 12-13
NOTE : EVERYONE HAS THEIR OWN WAY TO FILE 9,9C , BUT AS PER ME ,ITS A BEST WAY TO FILE BY PROVIDING LESS CLARIFICATIONS & COMMENTS
Padmahas Niwas
(ca)
(251 Points)
Replied 15 August 2019
Exactly that is the point, everyone has own opinion.I have told my logic and icai technical guide also says it. Obviously 12 is for information purposes. If I have utilised ITC in FY then it should be reflect from GSTR 9 and it should not be reduced. Thankyou.
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