ITC Reversal in GSTR-9 Disclosure

[Pankaj Sharma]

Looking for clarification on reversal of ITC presentation in GSTR-9.

Fact: We have claimed ITC for FY 2017-18 on which reversal required under rule 42 and for the same liability created in books says ₹ 10000+10000. Now this reversal has been show as output tax liability in Table 3(a) of Sept 18 and paid accordingly.

Now, we have disclosed this in Table 12 of GSTR-9 and Tax Payable & Paid in Table 14. Is it correct or not?

Or we have to disclose the same in Table 7(c) and difference shall be negative then how paid amount will be disclosed.

Please discuss and provide valuable suggestion.

AI Summary

Input tax credit reversal under Rule 42: disclose as output tax in returns and report in the annual return.
Reversal of input tax credit for portions not attributable to business must follow attribution under section 17 and Rule 42; omissions attract interest under section 39(9). Where ITC is reversed by creating output tax in the periodic return and the tax is paid, disclosing that reversal and the tax paid in GSTR 9 Table 12 and the Tax Payable & Paid summary is a consistent reporting approach, with the periodic return (Table 3(a) of GSTR 3B) showing the immediate liability.