TaxTMI 
TaxTMI 
Reclaim of ITC (through TRAN-1) after reversal
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....eclaim of ITC (through TRAN-1) after reversal<br> Query (Issue) Started By: - Raam Srinivasan Swaminathan Kalpathi Dated:- 28-7-2026 Last Reply Date:- 28-7-2026 Goods and Services Tax - GST<br>Got 2 R....
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....eplies<br>GST<br>One of the client had on account of a technical glitch in the portal while filing TRAN-1 reversed the eligible ITC in the books of account in 2018. Subsequently, when the GST departme....
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....nt provided one more chance to avail the lapsed ITC the client had successfully filed the same in 2022 through TRAN-1 and an acceptance letter was also received from the department. The reversed IT....
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....C was reclaimed in the books of account by way of credit to the statement of profit and loss account. Now, department has issued notice claiming GST on this ITC reclaim. One point is this amount does ....
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....not amount to supply and outside the purview of the GST department. Is there any other legal issue which I am overlooking? Experts please advise. Thanks Reply By KASTURI SETHI: The Reply: Dear Si....
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....r, " The department has issued notice claiming GST on this ITC reclaim". Please elaborate the above. Thanks. Reply By Raam Srinivasan Swaminathan Kalpathi: The Reply: Profuse apologies for ....
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....the typo. "The department has accorded approval for the GST availed in TRAN-1". Thanks<br> Discussion Forum - Knowledge Sharing ....