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Reversal of Itc In Gstr 9

Ubaid Ghori (12 Points)

10 June 2019

Itc Cliamed mistakely in 2017-18 how to Reverse in Gstr-9?

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6 Replies

Manisa (student) (103 Points)
Replied 10 June 2019

You should have reversed it in March 2019 month's return as there is no provision of reversing ITC in annual return

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Kishor Lulla (967 Points)
Replied 10 June 2019

itc can b reversed in gstr9... part,v clmn 12

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DARSHIT RATHOD (27 Points)
Replied 10 June 2019

PART V , CLMN 12? WHERE IT IS?

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 10 June 2019

Report ITC as per Books in table 6. & deposit the wrongly claimed ITC with Interest 24% by filing DRC 03.

Note : DRC 03 has to be setoff against the Cash Ledger only

Nishant shah (AUDIT ASSISTANT) (302 Points)
Replied 11 June 2019

Can't it reverse in table no.7(H) ?

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Manoj Punjabi (Accountant) (234 Points)
Replied 13 June 2019

Sir I have similar query, excess ITC claimed in 17-18, but this was not used, the said amount kept aside while paying monthly GST. the excess amount remained as credit balance every month.

Now in April-19 we reversed this amount, to avoid its use.

What shall we do now while filing return GSTR9.

Regards

Manoj Punjabi