TaxTMI 
TaxTMI 
RULE 86B - UTILISED 100% ITC
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....ULE 86B - UTILISED 100% ITC<br> Query (Issue) Started By: - Fahiyaz Ahmmed Dated:- 21-9-2024 Last Reply Date:- 23-9-2024 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>If a person not followe....
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....d rule 86B and utilized 100% ITC instead of 99%, after realising person want to deposit 1% Tax cash trough DRC-03, My question is what section should be selected during deposit 1% Tax through DRC-03. ....
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.... Reply By RaamSrinivasan Kalpathi: The Reply: Please mention remittance as voluntary and under Section 73 of CGST Act, 2017. In the reasons window a note may be added to the effect that RTP had erron....
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....eously utilised 100% ITC instead of 99% in violation of Rule 86B and that the same is now being sought to be corrected by way of remittance of 1% tax through the cash ledger with interest u/s. 50 for ....
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....the shortfall period. You may also mention the month of GSTR-3B Returns in which re-credit (1% excess utilised from credit ledger) is being availed. Thanks Reply By PAWAN KUMAR: The Reply: Voluntar....
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....y payment please do not forget to mention the remark Reply By Shilpi Jain: The Reply: Do not forget to take back the 1% credit that you have paid extra. Take this in your GSTR-3B and make an intima....
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....tion to the department.<br> Discussion Forum - Knowledge Sharing ....