Treatment of Excess Output Tax & Excess ITC in GSTR-9

[TAPAN RAI]

Dear Members,

A taxpayer has shown excess output supply as well as excess ITC claim in 2017-18 due to clerical error. No rectification done during 2018-19 Now what should be treatment in GSTR-9?

Excess Output Supply in Jan 2018 - 20.00 Lac Output Tax Liability declared : 2.40 Lacs

Excess ITC claimed in Jan 2018 - 3.60 Lac

He had deposited the differential tax of 1.20 Lac in Sept 2018 but was not able to declare the amendments in 3B due to 3B not accepting negative figures.

Pls. guide.

Thanks & Regards

AI Summary

Taxpayer to Correct Clerical Errors in GSTR-9 for 2017-18; Reverse Excess ITC in Table 7 as Specified A taxpayer reported excess output supply and excess Input Tax Credit (ITC) due to a clerical error for the financial year 2017-18, without rectification in 2018-19. The taxpayer seeks guidance on addressing this in GSTR-9. Experts advised rectifying the errors in the annual return. Correct figures should be entered in Table 4 for liability, and ITC will auto-populate in Table 6. The excess ITC of 3.6 lacs should be reversed in Table 7 with the nature of reversal specified. If covered under GST-9C, discrepancies will appear in the audit report, with the differential amount to be paid or refunded.