RULE 86B - UTILISED 100% ITC

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... RULE 86B - UTILISED 100% ITC
Query (Issue) Started By: - Fahiyaz Ahmmed Dated:- 21-9-2024 Last Reply Date:- 23-9-2024 Goods and Services Tax - GST
Got 3 Replies
GST
If a person not follow .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed 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. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 erro .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... neously 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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: Volunta .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ry 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 intim .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ation to the department.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X