GST ITC CREDIT REVERSAL BY MISTAKE - can we take now in JUNE 19

[venkataraman swaminathan]

DEAR SIR

Good Morning

While Updating GSTR-3B in GST Portal for the month of March 2018 , by mistake ,

by oversight, in data entry , we updated an entry against ITC Reversal column for a sum of ₹ 65000 + ₹ 65000 CGST / SGST and our ITC Credit is reduced to that extent in the Portal and we paid cash for the GST Payable due amount and filed our GSTR-3B return for March18.

Now This mistake is highlighted and bring to surface while doing Reconcilatino of GSTR-9 / 9c for 17-18 year . Now we are in problem of ₹ 1.3 Lacs as short ITC Credit availament in 17-18 year due to data entry error in GST PORTAL March 18, compared with BOOKS & GSTR-3B & GSTR 9 autopopulated data.

Request Experts guidance on the above mistake.

1) can we take ITC credit of ₹ 1.3 lacs now in JUNE 19 in GSTR-3B and can we utilise for our GST payment for JUNE 19 .

2. (or ) can we apply a refund by manually with the GST Dept.

3. or Suitable guidance to get back / avail the ITC in our books due to data entry error in March 18.

Submitted for kind guidance please.

thanking you

v Swaminathan

AI Summary

User Seeks to Reclaim Mistakenly Reversed ITC; Options Include Re-credit or Section 54(1) Refund Application A user mistakenly reversed an Input Tax Credit (ITC) of 1.3 lakhs in their March 2018 GSTR-3B filing, leading to a shortfall. They seek advice on reclaiming this credit in June 2019. Respondents suggest treating the reversal as a 180-day payment rule reversal, allowing the credit to be reclaimed anytime. Another option is to apply for a refund under Section 54(1), as the two-year period has not elapsed. It is recommended to take re-credit and notify the GST Officer, as the portal will accept it. Manual refund claims are considered tedious.