Respected Experts. I have wrongly taken GST ITC for F / Y 2020-2021 year. Wrongly taken ITC CGST: 5,00,000 SGST: 5,00,000. September 2021 GST 3B not filed. Augest 2021 Closing Balance ITC CGST: 1,54,900 SGST: 12,60,400. My question is, if I win, can I deduct 1,54,900 from CGST and 8,45,100 from SGST?
(Low amount in CGST and high amount in SGST). I beg you to tell me a way on how to match ITC.
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Reverse Excess ITC claimed
Replies (2)
No way. You have to pay balance CGST in CASH.
you have to make payment in CGST head of the balance amount left over after reversal.
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