7 DIFF transaction & their treatment in GSTR 3B applicable from 01-09-22
THREAD
1 Reversal due to CN /r.42/43/s.17(5)/r.38 -4B1
2 Excess amt reversed in CN/ r.42/43/s.17(5)/r.38 now want to reclaim-4A5
3 Reverse due to Non payment in 180 days or not recd. Goods - 4B2
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THREAD
1 Reversal due to CN /r.42/43/s.17(5)/r.38 -4B1
2 Excess amt reversed in CN/ r.42/43/s.17(5)/r.38 now want to reclaim-4A5
3 Reverse due to Non payment in 180 days or not recd. Goods - 4B2
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4. claiming ITC For Earlier Reversed due to Non payment in 180 days or not in possession of Goods - 4A5 and 4D2
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5. ITC from QRMP dealer who uploaded in his GSTR -1 qtrly not in IFF
so wrongly claimed earlier in JAN - 4A5
Realized in FEB so reversed in FEB - 4B2
now want to claim in MARCH - 4A5
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so wrongly claimed earlier in JAN - 4A5
Realized in FEB so reversed in FEB - 4B2
now want to claim in MARCH - 4A5
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6. Wrongly claimed IGST Instead C+S
reverse IGST - 4B1
Claim in CGST SGST - 4A5
7. ONLY Disclosure for ITC you haven't claimed due to Ineligible ITC under s 16(4) and ITC restricted due to PoS - 4D2
( not avaibale ITC as per 2B)
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reverse IGST - 4B1
Claim in CGST SGST - 4A5
7. ONLY Disclosure for ITC you haven't claimed due to Ineligible ITC under s 16(4) and ITC restricted due to PoS - 4D2
( not avaibale ITC as per 2B)
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Advisory from PORTAL
From the format of Table 4, following is noteworthy:
I. All non-reclaimable reversal of ITC needs to be reported in table 4(B)(1)
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From the format of Table 4, following is noteworthy:
I. All non-reclaimable reversal of ITC needs to be reported in table 4(B)(1)
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II. All reclaimable ITC reversals may be reported in table 4(B)(2). It should be noted that ITC reversed under 4(B)(2) can be reclaimed in table 4(A)(5) at appropriate time and the break-up detail of such reclaimed ITC should be provided in 4(D)(1) in the same return.
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III. The ITC not-available mentioned in GSTR-2B of the taxpayer has to be reported in 4(D)(2) of table 4.
IV. Any ITC availed inadvertently in Table 4(A) in previous tax periods due to clerical mistakes or some other inadvertent mistake maybe reversed in Table 4(B)2.
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IV. Any ITC availed inadvertently in Table 4(A) in previous tax periods due to clerical mistakes or some other inadvertent mistake maybe reversed in Table 4(B)2.
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ONE MAY LOOK to CBIC Cir No. 170/02/2022-GST dated 06th July, 2022 for detailed clarification on reporting of ITC availment, ITC reversal and Ineligible ITC in GSTR-3B
PS- GSTR 3B has become such Return that need to be dealt with their ADVISORY & CIRCULAR NOT Accd to LAW
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PS- GSTR 3B has become such Return that need to be dealt with their ADVISORY & CIRCULAR NOT Accd to LAW
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because law has been specific on RECLAIM and REVERSE word
However,here it is generalised to dictionary meaning
thanks to @DEEPKORADIA @CAMihirModi @AbhasHalakhandi who helped me to understand
@CAMihirModi will share practical problem of point no-2 in comments on 42/43
9/9
However,here it is generalised to dictionary meaning
thanks to @DEEPKORADIA @CAMihirModi @AbhasHalakhandi who helped me to understand
@CAMihirModi will share practical problem of point no-2 in comments on 42/43
9/9
Small correction in 4th point above
Its 4D1
Not
4D2
Its 4D1
Not
4D2
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