ITC wrong head claimed

[raghunath sv]

IGST Input during financial year 17-18 claimed wrongly under head cgst and sgst

No rectification done in 18-19

How to file in GSTR-9

[KASTURI SETHI]

There will be a mismatch of GSTR-2A with GSTR 3B and GSTR-1. Differential tax has to be paid in cash through DRC-03. ITC will not be available against this challan. Apply for refund of CGST & SGST. No interest will be charged for availing ITC against wrong head.

Cash payment is mandatory vide Notification No.74/18-CT dated 31.12.18. See serial No.9 above Table No.17 of this Notification.

Also wait for the outcome of GST Council meeting to be held on 21.6.19 before taking any decision.

[Ganeshan Kalyani]

Ignore of law is not an excuse. However, the ignorance was on both the side i.e. assessee and exchequer. Therefore, it is fair to expect some relaxtion for the annual return of the first year. Thanks.

AI Summary

Wrongly claimed input tax credit requires cash payment of differential tax via prescribed challan and limits ITC relief. Incorrect classification of IGST as CGST and SGST causes GSTR reconciliation mismatches; the differential tax must be paid in cash via DRC-03 and ITC will not be available against that challan. A refund claim for the wrongly allocated CGST and SGST may be pursued. Cash payment is mandatory under the applicable notification, and no interest will be charged for ITC availed under the wrong heads; taxpayers were advised to await GST Council guidance before finalising the annual return.