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Reversal of ITC in GSTR 9

Vinod Maheswari

Dear Sir

In FY 2017-18 I have wrongly taken ITC which is duly reversed in GSTR-3B of FY 2018-19.

So please tell me the way i have to show this in GSTR-9 (Annual Return). if i reversed the amount in GSTR-9 of FY 2017-18 than i have to make the payment through DRC-3. As i have already adjusted this Excess ITC in my GSTR-3B of FY 18 19 then any payment regarding this reversal will impact double reversal (I.e Ist in GSTR-9 of FY 2017-18 and 2nd in GSTR-3B of FY 18 19).

Thanx

Clarification on Reversing Incorrectly Availed ITC in GSTR-9 and Avoiding Double Taxation for FY 2017-18 and 2018-19 In a discussion on the reversal of Input Tax Credit (ITC) in GSTR-9, a participant raised a query about incorrectly availed ITC in FY 2017-18, which was reversed in GSTR-3B for FY 2018-19. The concern was how to reflect this in the annual return without causing double taxation. Another participant clarified that the reversal in FY 2018-19 neutralizes the error, and any mismatch in GSTR-9 requires payment through Form DRC-03. Further replies emphasized that the practice of adjusting ITC across fiscal years is incorrect, and any excess credit must be paid with interest, not adjusted at will. The discussion also covered the technicalities of using the Electronic Cash Ledger and the appropriate tables in GSTR-9 for reporting such transactions. (AI Summary)
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