Reporting of Ineligibe ITC wrongly claimed in P.Y.17-18 in GSTR-9

[NISHANT SHAH]

Dear Experts,

My firm had wrongly claimed ITC on Factory Building for F.Y.17-18 & 18-19 by ₹ 150000 & ₹ 300000 respectively. Now, Entire ITC reversed in Books of account as on 31.01.19( i.e, in F.Y.18-19) of both the year as soon as we come to know that it is block credit u/s 17(5) and in portal, we made its reversal through DRC-03 from E-Credit Ledger in 01.10.20(i.e, in F.Y.19-20) since we had sufficient credit balance lying in e-credit ledger account.

Now, following question arise.

How to report these wrongly claimed credit in GSTR-9 Whether in Table-7H( Other Reversal)

or at any other place?

Please help me with proper guidance about how to report in GSTR-9/9C..

AI Summary

Firm Reverses Incorrect ITC Claims for 2017-18 and 2018-19; Guidance Sought on Reporting in GSTR-9, Table 7H A firm incorrectly claimed Input Tax Credit (ITC) on a factory building for the financial years 2017-18 and 2018-19, totaling 150,000 and 300,000 respectively. Upon realizing the error, the firm reversed the ITC in their books as of January 31, 2019, and through the DRC-03 form on the GST portal by October 1, 2020. The firm seeks guidance on reporting these reversals in GSTR-9, specifically whether to use Table 7H for other reversals. An expert advised that the reversal can be shown in Table 7H for both years. Further clarification was sought regarding any impact on GSTR-9C.