ITC Reversal & Re-Claim Statement | Understand the New GST Ledger and its impact on GST Filing
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- Опубликовано: 4 окт 2024
- How to calculate opening balance • ITC Reversal & Re-Clai...
In this video, we dive into the significant changes via latest advisory by GSTIN related to ITC Reversal & Re-Claim Statement introduced by Notification No. 14/2022 - Central Tax dated 05th July, 2022, along with Circular 170/02/2022-GST, Dated 6th July, 2022. The government has revamped Table 4 of Form GSTR-3B, impacting how taxpayers report Input Tax Credit (ITC) availed, ITC reversal, ITC re-claimed, and ineligible ITC.
Learn how the re-claimable ITC, previously reversed in Table 4(B)2, can now be claimed in Table 4(A)5 under specific conditions. Discover the importance of explicitly reporting reclaimed ITC in Table 4D(1).
To simplify and minimize errors in ITC reporting, the GST portal has introduced a new ledger called the Electronic Credit and Re-claimed Statement. This statement helps taxpayers track ITC that has been reversed in Table 4B(2) and subsequently re-claimed in Table 4D(1) and 4A(5) for each return period, starting from the August return period.
Stay updated on these crucial GST changes and ensure accurate reporting by watching this informative video. Don't forget to like, share, and subscribe for more tax-related updates!
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Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of RUclips videos.
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Sir u r philomilnal. Aap jo ye itna elaborate kar k batate ho it's really remarkable with totally concept
thank u sir apne bahut ache se samchaye
sir bahut achha explain krte ho aap,
Excellent lecture ❤ you sirji
Nice information Sir...
Sorry sir Mera net issue k vjh se apne Mera comments ka jwab diya vo sun nhi paya isliye maine dobara comment Kiya and apka gst ka course bhut best h
Okay 👍🏻
Dear sir i have some queries related to this topic, kindly solved it
Sir, how to reclaim itc after due date ??
Dear Sir,
As we reimburse to client our major GST purchases, as client are foreign so we dont avail input. But that ITC reflecting in 2B as unclaimed, in this regards GST officer insist us that, claim that ITC and reverse it in same month.
So , Why GST officers are impossing to Claim and Reverse ITC ?
Dear sir
How to reverse reclaim itc?
Gstr1 nill hai 3b mai tax reverse kiya hun table no4b1 mai jo reverse amount deduct hua hai to usmai payment of tax show ho raha
Ye sahi hai ya galt
Reply me soon as possible
GSTR3b Table 4 (D) me claimed value me 1 digit extra lag gyi wo amend kaise hogi...claime kam kya hai but declare jada kiya hai
(1cr negative me gyi value)reveral lac me tha 1 digit extra lagne se crore me difference aagye
If a buyer has deducted tax deducted at source (TDS) from the payment to the seller, they cannot be held responsible for the non-payment of GST by the seller. The responsibility of paying the GST lies with the seller, and the TDS deducted by the buyer will be adjusted against the seller's GST liability.pls let us know.pls explain
4D(1) mai Data entry mistake se closing balance negetive ho Gaya .
How to rectify it?
Agar permanent ko temporary me daal diya aur vo credit reversal me show hora hai toh use zero kaise kare
Sir, Only one credit note reflecting in 2B.
How show negetive figure in ITC reversal(2).
Plz suggest....
Agar credit match nhi ho to credit Note ka reversal kaise kare
Sir hotel ke case mai kha reverse krege or other details mai kha show krege
Can you tell me rcm is applicable or not on commercial property
Landlord is urp but recipient is the registered..
Please help me
Please refer notification
what is itc reclaim time limit in case of 180 days rule and gst not paid by supplier
Good morning sir
October bill input ITC not show in my electronic credit ledger in gst portal and November 23 ITC also.
Why not show gst ITC in portal
Reply must sir
sir. howitc has to be reversed in case it was claimed and selling that capital goods within 5 years.date of sale period is to be considered and 30th nov time limit for the same accordingly?
Good morning sir me Ram babu mene aap ka GST, Income tax & TDS ka purchase kara us me se mene GST ka portion complete kar diya. Sir mera ek client hai jo tours & travel business karthe woh gst 5% pay kartha hai tho uska jo ITC revised karna hai woh section 17 (5) table me kar santhe hai please reply
Sir I am apply for nill returns but November GST R1 can not apply because ITC reversal locked
Sir,i have wrongly entered purchase return credit note in others of reversal section..how to correct it?
Sir please suggest one Book for understanding GST
Sir pls make video on list of temporary nature reversal n permanent nature reversal
Sir, mere gst suomoto me cancel ho gaya hay...mere 2,37,000 ki credit hay...me isko claim kaisa Karu....mene appeal Kia hay...but abhi Tak gst active nahi hua...
Sir ye reversal me wo invoice avenge jo 2b me hai but books me next month ayenge
Thank u sir just needed this
Thankyou so much for your information sir
Keep watching
what is calim itc time limit in case we have not utilize the itc for 180 days and supplier not paid gst
Sir, Agar ITC reversed kardie Table 4 B(1) mein jo ki permanent bola aapne usko reclaim kar sakte hai kya ? KOi aur option hai to bataiye PLease . Maine 2 baar Reverese kardia ITC ek Jab wo actually 2B mein dikhaya tha aur ek baar Year End Audit k time. Please Suggest Something
how to reverse sample Invoice ITC
sir itc reverse charge wala galti se all other itc head me daal diya wo reverse krna pdega kya
is drc 13 cancelled.when and how to show reversal in case supplier not paid gst.how to recalim and when to reclaim and show it return in case annual return filed.pls let us know.also in case of 180 days itc reversal.how to and when to reclaim and show in return .in case annual return filed.lets say in case of for march invoice
what is the reason of not matching 8A in gstr 9
i am in catering 5percent without itc how to report
what if supplier has paid gst but 3b return not filed
Nice
Sir incurase ka reversal b(1) mai hoga sir is reversal ka discover bhi dena hoga c(2) mai
Sir second hand goods ke business me itc kese reverse karenge
Sir mere ek client ka reclaim amount, reclaim ledger me show nahi ho raha
Wait karo show ho jayega
Sir Maine galti se table 4d(1) me figure dala hu par all other itc me nhi dal paya hu ab use kaise sudhare. Sir please bataiye
Debit note agar all othe itc se less karke aayega
but jis bill ka debit note hai usse humne claim kiya hi nhi hai phir kaise krenge
MENE APNE TRUCK RENT PER DE DIYE KISI TRANSPORTER KO TO JO RENT MIL RAHA HAI TO WO RENT MERI INCOME ME KESE SHOW HOGA
Paraments reversal ki disclosure dena h irher details mai
What if itc was not reversed anf while filing 3b took net itc
Sir Mera ek creditors party hai usne financial year 2021-2022 and 2022-2023 ke debit note oct -2023 ki return main dalein aur maine jis month ke debit note the uss time gstr3b return bharte bakat itc reversal kiya hai ab main uss itc ko reclaimed kar sakta hoon
Sir maine by mistake excess input claim krliya cgst and sgst m
Next return m Maine ushe ITC reversal m other m reverse krliya but by mistake igst and cgst m krliya
Abb maine igst m reclaim krdiya and sgst m reverse
But mere ITC comparison m igst negative hogaya reclaimed amount se
Kya solution h ishka kya kuch ho skta h???
Please reply it's tooo urgent kl due date h and phir f.y. ka last month reh jayega bss thikk krne k liye
Sir
Agar 2b se capital good ka itc claim hi nai Kiya last month to chalega kya
Ya
Itc claim kar k reverse karna jaruri hai
Block itc k case me
sir fy 22-23 ke march me itc 2a ke according le li gyi thi jiski wjh comparision table me minus me red show ho raha tha to drc ke through minus wali itc ka payment kar diya gya or april me comparision wali table me less itc show ho rahi hai jo claim nii ki april 23 me qki march 23 me wo claim kr li gyi thi to uska bhi report krna hoga . ya only less itc claim kr le 3B me me.
Sir we followed the same process in some month of previous year also now the amount of reclaim input as are also reflecting in 4a(5) it is counted as doubling in annual return table 6. Please make video on this how to report this thing in Gstr9.
This is because there is technical issue in Table 6 & 8 of GSTR 9.
You can give reverse the extra ITC in Table 7 and make a note for difference in Table 8 will try to make a video on this topic soon.
Thanks Sir!!
Sir,
But maina temporary reversal show nhi kra abhee tak gstr 3b mai (180 days ka ) and opening balance mai kya mentioned krna ho gaa
Nahi uska nahi karna
fy 22-23 ka revrse hum itc reversed other m dikhaya hai ye thik hai ya nhi ???
This h
Iska impect gstr 9 table 6a me bhi bataeye
This is because there is technical issue in Table 6 & 8 of GSTR 9.
You can give reverse the extra ITC in Table 7 and make a note for difference in Table 8 will try to make a video on this topic soon.
Sir, temporary reversal and reclaim statement books mein kaise skow karna hai?
No entry in the Books of account
Hello sir
Sir mere se yahi mistake ho gai hai maine reversal ITC ko reclaim me ke colom me bhar kar claim kar liya hai aur all ITC colom me nahi bhara tha
Ab usko kaise sahi kare
Sir please help me 🙏
49,00,000/ ITC hai sir please help me
Sir please provide me your contact number
Sir me aapke webinar me add hona chata hun please provide me your fee and contact no