https://www.taxtmi.com/forum/issue?id=117775 Reversal of excess ITC may be reported in a subsequent periodic return within the rectification window under section 39(9). Circular No. 26 permits net reporting of past-month adjustments in the current FORM GSTR-3B with no negative entries, requiring leftover amounts to be adjusted in later returns or claimed as refund. Departmental insistence on using DRC-03 reflects procedural convenience for transaction-specific recording, but corrections in GSTR-3B are supported by the rectification provision and the circular and would ordinarily be a procedural lapse if insisted otherwise. en-us Mon, 24 Jan 2022 12:30:12 +0530 Thu, 23 Jan 2025 15:54:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117775 Reversal of excess ITC may be reported in a subsequent periodic return within the rectification window under section 39(9). Circular No. 26 permits net reporting of past-month adjustments in the current FORM GSTR-3B with no negative entries, requiring leftover amounts to be adjusted in later returns or claimed as refund. Departmental insistence on using DRC-03 reflects procedural convenience for transaction-specific recording, but corrections in GSTR-3B are supported by the rectification provision and the circular and would ordinarily be a procedural lapse if insisted otherwise. Discussion-Forum GST Mon, 24 Jan 2022 12:30:12 +0530 https://www.taxtmi.com/forum/issue?id=117775