Input tax credit query

[Omkar Kadam]

Hi All,

At the time of filing GSTR-3B we have mistakenly claimed input as input received form ISD instead of RCM input

How to resolve above issue?

[Rajagopalan Ranganathan]

Sir,

This mistake can be corrected in the return filed for the subsequent tax period. Actually you can correct it up to the return filed for the month of September following the end of the financial year in which such error occurred.

[KASTURI SETHI]

Yes. You can reverse ITC wrongly taken in Table No.4 Serial No. B (2) under the head 'Others' of GSTR-3B in the next month or thereafter before the return for September next year as advised by Sh.Ranganathan, Sir.

[Ganeshan Kalyani]

There is no provision for revising the return. The only way out is to rectify them in subsequent month's return. As stated by Sri Kasturi Sir the amount to be reversed can be shown in table 4(B)(2) of GSTR-3B and the same amount (as you wanted to show as RCM) can be shown in table 4(A)(3). Or if it happens to have fresh ISD credit in next month you can shown less of the amount already shown as ISD.

[YAGAY and SUN]

In subsequent month's return can be rectified to correct such inadvertent mistakes.

[CSSANJAY MALHOTRA]

If the time period for availing/ rectification ITC has been expired for e.g FY 17-18 or 18-19 transaction than state the figure under correct heading in Table 6 of GSTR-9 (if applicable).

AI Summary

Input Tax Credit correction: misclassified ISD credit can be rectified in subsequent returns by reversing and reclassifying under RCM.
Misclassification of ITC as ISD instead of RCM cannot be rectified by revising the filed GSTR 3B; instead reverse the wrongly taken ISD credit in Table 4(B)(2) of a subsequent month's GSTR 3B and declare the amount under Table 4(A)(3) as RCM, or offset it against fresh ISD credit if available. Corrections may be made up to the return for the month of September following the end of the financial year; if that period has lapsed, disclose the correct figures in Table 6 of GSTR 9.