TaxTMI 
TaxTMI 
TaxTMI 
Input tax credit query
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....nput tax credit query<br> Query (Issue) Started By: - Omkar Kadam Dated:- 28-4-2020 Last Reply Date:- 2-5-2020 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>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? Reply By Rajagopalan Ranganathan: The Reply: Sir, This mistake can be corrected i....
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....n 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. Reply By KASTURI SETHI: The Reply: 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 fo....
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....r September next year as advised by Sh.Ranganathan, Sir. Reply By Ganeshan Kalyani: The Reply: 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....
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.... happens to have fresh ISD credit in next month you can shown less of the amount already shown as ISD. Reply By YAGAY andSUN: The Reply: In subsequent month's return can be rectified to correct such inadvertent mistakes. Reply By CSSANJAY MALHOTRA: The Reply: 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 unde....
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....r correct heading in Table 6 of GSTR-9 (if applicable).<br> Discussion Forum - Knowledge Sharing ....