Take itc two time for one purchase.

ITC / Input 395 views 7 replies
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ACCOUNT EXECUTIVE
30 Points Joined January 2016

Hello Everyone

We purchased material In Nov 2017 . And We Take ITC For this purchase 2 Times By mistake

Once In Journal & Secondly In Purchase

Now We are trying to upload debit note In march Return for one purchase as we have shown ITC excess For the month November 2017.

But The GST Site Reflecting Processed with error while uploading in Debit Note .Is It possible to Upload Debit Note. or we have to adjust it in Annual Return GSTR-9

Please Suggest Suggestion For this Query . Thanks In advance 

 

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On 15 September 2018 at 18:21 Report
Replies (7)
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account -GST
1560 Points Joined June 2018
you should reversed the ITC in current month Gstr 3b in reversed column
1 Reply
On 15 September 2018 at 18:55
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Auditor
64 Points Joined February 2017
you have to reversed the ITC credit taken.. nd have liability to pay interest As per section 50 from the next return date of excess ITC taken
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On 15 September 2018 at 21:54
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1545 Points Joined July 2017
Excess credit taken should by reversed in subsequent month gstr 3B
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On 16 September 2018 at 00:39
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Student
3193 Points Joined February 2011
Adding with @ Vatsla Mam if such credit is utilized also need to pay interest, may be without using the same.
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On 16 September 2018 at 00:43
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GST Practitioner
55067 Points Joined June 2017
But There is no form available to upload debit note Against Your Inward supplies.
So reverse the same with Interest @ 24 % in your GSTR 3B
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On 16 September 2018 at 00:57
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ACCOUNT EXECUTIVE
30 Points Joined January 2016
I have filled GSTR 3B OF NOV 17 Month. Can I do this REVERSE entry in march 18 GSTR 3B .RETURN
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On 16 September 2018 at 09:23
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24196 Points Joined May 2018
Yes you can reverse it.
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On 16 September 2018 at 10:18


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