Goods Lost during the transit, Goods and Services Tax - GST

[JAGDISH RAJ]

The taxpayer has taken GST ITC as per Invoice in respective GSTR-3B. But some goods out of the total invoice were not received. Now the taxpayer has received credit note exclusive of GST. How to reverse GST input credit already taken. Whether to reverse to GST ITC thro' GSTR-3B or pay the excess(wrongly) taken ITC thro' DRC-03.

Posts / Replies

[KASTURI SETHI]

See reply against Issue ID no. 116244 dated 28.4.2020.

[YAGAY andSUN]

In addition to above reply, statutory interest would also be paid.