Use of Drc 03

19 September 2019

can I use gst itc credit ledger balance of August 2019 to payment of wrongly taken itc of 2017/18 and 2018/19 through Drc 03.please guide.

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2 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 19 September 2019

1)No , I don,t think so. you have to pay in cash only

2) You have reverse the ITC in Table 7H (1) of GSTR 9 ( see help section in Table 7 of GSTR 9)

3) Payment in cash ledger

4) File DRC03 for set off

please confirm with others also .

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 19 September 2019

Yes you can Setoff by balance .in Credit Ledger also.
It's only in Annual return for FY 2017-18 , the set-off is to be done by cash ledger only

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