Question ID :
40892
Reversal of Credit balance outstanding in Credit ledger
GST authorities are asking us to reverse Credit balance outstanding in Credit ledger voluntarily, that can not be claimed as refund while filing Refund application. Whether they are right.
Secondally Whether there was relief provided in terms of time to file GST refund application because of Chrona Pandemic as they want to exclude Input surplus for delayed period also Please reply urgently. Thanks
Posted by
Mahesh Kumar
on
Nov 05, 2020
Filed Under
GST
Answer ID :
80797
If it is an eligible credit availed the department cannot ask you to reverse it just because you cannot get a refund for the reason that the availed credit does not expire and is available to be used without any time limit.
There was an extension for this which may have been up to 31st Aug '20 and further extended to 30th sep if I remember right
Posted by
CA. SHILPI KATARIYA on
Nov 07, 2020