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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