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wrong claim of input

16 May 2018

in the month of septemper..i have wrongly claimed igst input..on reverse charge payment on freight.how can i rectify it now

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5 Replies

Nihar Ranjan Rout (CA Final & CS Final) (577 Points)
Replied 25 May 2018

Add the wrongly availed input to your output liability for the upcoming month and pay interest @ 24% for wrong availment.

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Ravi SADhiyan (Practice) (4510 Points)
Replied 25 May 2018

Originally posted by : Ankit Sha
	in the month of septemper..i have wrongly claimed igst input..on reverse charge payment on freight.how can i rectify it now

If case Claim ITC of IGST on RCM under the Wrong head of GSTR-3B than No Liability.

If You have Claimed excess Amt of IGST than pay tax with Interest @ 24 % P.A.

Milind Joshi (Accountant) (24 Points)
Replied 06 June 2018

Dear sir I have Claimed Wrong ITC in IGST RCM Rs. 4800/- colom & Utilized in the month of April 2018. How to correct in next month.

on which colom I revse the amount.

CA Padmasri Manyam (CA in Practice) (1340 Points)
Replied 06 June 2018

Excess claimed ITC, you can reduce that much amount in next month eligible ITC. Mention the excess claimed ITC in Table 4 (B): ITC reversed - others. Interest is liable to be paid.

Please note that, currently there is no mechansim to add back such excess claimed ITC to the output tax laibility. That is possible if they implement GSTR-2, 3.