9911796707
TMI BlogWrongly Reverse ITCX X X X Extracts X X X X X X X X Extracts X X X X ..... Wrongly Reverse ITC X X X X Extracts X X X X X X X X Extracts X X X X ..... (2). Now GST department sens a notice. So what is implications for wrongly filling GSTR 3B? Reply By KALLESHAMURTHY MURTHY: The Reply: Sir, If the department insists on reversal due to ineligible I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TC availed, you are required to reverse it. But not required to pay interest since ITC is already with the department. You can apply for a refund for entries in the wrong col. subject to other conditi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons and restrictions. As per recent changes, Col. 4(B)(1) is for ITC not liable to reclaim. Reply By Shilpi Jain: The Reply: Need further details on this. What is the period when this reversal wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s done. Why was it to be done as a temporary reversal, goods not recieved or anything else? What does the dept notice state? Reply By Shilpi Jain: The Reply: Anyway note that the disclosure requi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rements are mentioned in a circular and not stipulated in the rules. Reply By Uttam Giri: The Reply: Dear Madam, Already filled GSTR Annual return also, we are reversed the ITC permanently instead ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of temporarily reversed table. And same we reclaimed on subsequent months when it is realised in our books of accounts. So, GSTR department says after showing in table 4(b)(1), you can not reclaimed.N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ow what will be the penalty and the implications? X X X X Extracts X X X X X X X X Extracts X X X X
|
