https://www.taxtmi.com/forum/issue?id=115281 Reversal of excess input tax credit via DRC-03 implicates whether payment may be made from the electronic credit ledger or must be paid from the electronic cash ledger; departmental notification language restricts annual-return DRC-03 payments to the electronic cash ledger, and interest on voluntary reversals is payable in cash. The timing of reversal relative to filing the annual return affects how the reversal is reported and may expose taxpayers to assessment arguments about annual-return liability. Portal functioning and notification interpretation dictate practical treatment. en-us Mon, 05 Aug 2019 00:24:12 +0530 Thu, 23 Jan 2025 15:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115281 Reversal of excess input tax credit via DRC-03 implicates whether payment may be made from the electronic credit ledger or must be paid from the electronic cash ledger; departmental notification language restricts annual-return DRC-03 payments to the electronic cash ledger, and interest on voluntary reversals is payable in cash. The timing of reversal relative to filing the annual return affects how the reversal is reported and may expose taxpayers to assessment arguments about annual-return liability. Portal functioning and notification interpretation dictate practical treatment. Discussion-Forum GST Mon, 05 Aug 2019 00:24:12 +0530 https://www.taxtmi.com/forum/issue?id=115281