VAT credit taken through Tran-1.
Such credit been utilised for setting of liability till July 2018.
Later in August 2018 it was identified that the credit of Tran-1 was wrongly taken nd the same was reversed in gstr-3b.
Till today it is not reversed in Tran-1 reversal.
Can such reversal b done in GSTR-9?
If reversed do i have to pay in cash all the credit taken and interest on it?
Menu
Tran-1 credit reversal
Replies (1)
No if the reversal is done in GSTR 3b , no need to pay tax on same .
As per Circular 58/32/2018 , reversal of any wrong credit avail by Tran 1 can reverse in GSTR 3b , under table 4 (b)(2)
As per Circular 58/32/2018 , reversal of any wrong credit avail by Tran 1 can reverse in GSTR 3b , under table 4 (b)(2)
Recent Threads
- Who is responcible to pay GST Liability (If Servi
- Which Website is Best For PL-200 Exam?
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
- Purchase of business
Related Threads
CAclubindia
