Question ID :
42172
Reversal of ineligible credit
ITC was wrongly declared as ineligible. How to reverse the same as negative figures is not allowed under ineligible row of 3B.
Posted by
SURAJ KUMAR CHOUDHARY
on
Nov 17, 2021
Filed Under
GST
Answer ID :
81359
You can claim it in next month's return as "any error in form GSTR-3B can be rectified in next GSTR-3B. you cant report negative figures in GSTR-3B
Posted by
CA Shrawan Suthar on
Nov 22, 2021
Answer ID :
81373
Firstly claim the ITC wrongly claimed in the successive month but upto 6 months from the end of the Financial Year to which the ITC pertains or the date of Filing of Annual Return, whichever is earlier.
Secondly, as negative figures are not allowed in the field for Ineligible credit, it can only be rectified by mentioning the same in the Annual Return and making the concerned authorities aware about the mistake.
Posted by
CA Nikhil Jain on
Dec 05, 2021