Want to zero reversal Electronic Credit Revsersal Ledger

[JIGNESH SITAPARA]

Dear Experts,

I wish to surrender my GSTIN. But some ITC shown in ELECTRONIC CREDIT REVERSAL AND RE_CLAIMED STATEMENT. Now, what to do ?? Can I surrender as it is or want to permanently reversal ? Please help me.

[Sadanand Bulbule]

You cannot surrender the GSTIN as it is--any ITC shown as re-claimed must be finally reversed and the Electronic Credit Ledger be made NIL before filing the surrender application.

Ref: Section 29(1) & (2), 18(4) and Rule 44 & 20

[JIGNESH SITAPARA]

Sir, how can transfer to electronic credit ledger ?? Can you please guide me. 

[Shilpi Jain]

Its a statement that provides some information to department. You can also try to surrender the GSTIN and in case the department insists that it should be reversed then you can avail it in table 4A5 disclose in 4D1 and reverse in 4B1.

Its is not compulsory to reverse the balance in that ledger

AI Summary

Surrender of GSTIN requires reversing re claimed ITC and making the Electronic Credit Ledger nil before filing. ITC shown as 're claimed' must be finally reversed and the Electronic Credit Ledger made nil before filing a GSTIN surrender application; disclose and reverse reclaimed amounts in the relevant return tables if required by the department.