- SHOYAB BELIM
- | Goods and Services Tax - Articles- Featured
- 11 Mar 2019
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- 20 comments
NEW FEATURE ROLLING OUT ON A GST PORTAL
As the Due date of GSTR-9 is notified by the Government as 30th June 2019 the government is trying to simplify the Reconciliation of the Returns. ITC claimed as this is major issue in Reconciliation of ITC claimed under GSTR-3B & ITC as per GSTR-2A.
The government has given easy outcome as Credit and liability Statement.
As After the view the Detail for the Various it will Take time of few Seconds to Generate the All Statement of Following
- Liability other than Export/Reverse Charge
- Liability to Reverse charge
- Liability Due to Export and SEZ Supply
- ITC Credit Claimed and DUE
As the Major issue as Mentioned above is ITC Claimed and Due.
As For FY 2017-18 the ITC claimed as per GSTR-3B, ITC as per GSTR-2A, Shortfall (-)/ Excess (+) in liability (GSTR3B – GSTR2A), Cumulative Shortfall (-)/ Excess (+) in liability (GSTR3B – GSTR2A)
A. As the Shortfall /Excess computed and the Figures of such is Calculated Automatically.
B. Cumulative Shortfall /Excess is calculated through outcome of point A Adjusting the Excess of Credit if in any Tax as per the ITC rule & And if After Cumulative Adjustment of tax is still there is a shortfall the the Excess liability will be calculated and is excess of either of the tax then Excess credit will be Shown as per IGST, CGST, SGST.
As For FY 2018-19 The image of Credit and Liability Statement.
Hope This New Initiative By Government will Be Helpful for Business Person or to the Professional in Reconciliation of GST Figures.
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While doing GST Audit for a company, I found that there were some differences between 2A and 3B. The invoices for which the ITC claimed in 3B is not in 2A. Ans it comes to 13% of the eligible ITC. Please clarify whether the ITC of 13% not in 2A needs to be reversed or not?
I have download the chart of comparison betwnn ITC claimed in GSTR-3B and accrued as per GSTR-2A fy 2019-20 then their is diff between actual ITC taken in GSTR 3b and download chart.
month itc as per chart itc as per 2a diff
April-19 93,13,079 99,56,295 -6,43,216
but i have claimed itc for the month of april is 9025835/- and their is diff of 643216/-
in all the month month fy 18-19 & 19-20 diff in ITC
please sugguest
You need to do billwise reconciliation For the FY 2018-19 and Rule 36(4) Has been already applicable from 1St of October so you need to check every month GSTR-2A before filling GSTR-3B every Month. For betterment u refer Rule 36(4) anf till September 2019 any difference u need to reconcile.
there is lesser ITC claimed in 3B for the year 2017-18, during the same year Auto populated in 2 A is excess of ITC availed but it is related to business. Now How to adjust that ITC availed amount, Now we r in 2019-20 please clarify it.
AS for FY 2017-18 The Last Date for claiming Credit was 31.03.2019 As Already Time has gone so excees Credit of GSTR-2A Cannot be claimed But Recently Gujarat High Has Given a Judgement Regarding GSTR-3B is not a Return U can Refer that as it says it is not a return so u can claim Credit of 2017-18 At RIsk As if Tomorrow Higher Authority Gives judgement against Gujarat High Court Than u Need to pay That credit with Interest & Penalty So i Better Suggest Not to claim Credit of 2017-18.
When excess itc claimed in gstr-3b in september 2017 but not reversed till date can we reverse that excess itc claimed in august 2019 filing of gstr-3b or we should do it only by gstr-9 .
u can Reversed the excess itc claimed in GSTR-9 Same excess ITC need to be Pay through DIR-03 By Credit if u have credit in your cash Ledger.There is 2 way to settle Excess credit claimed. If u want pay through credit than u need to pay Through DIR-03 Through Crdit & If u File GSTR-9 Then u need to pay DIR-03 Through Cumpulsory by Cash.
The ITC of CGST SGST wrongly claimed as IGST which got noticed during reconciliation So How can the same be rectified ?
can’t be Rectified u need to do this time of Filling GSTR-9
My vendor have uploaded B2B invoices issued in my favor, but in GSTR2A the return status is NOT SUBMITTED, shall this affects the auto populated amount in Comparison of Gstr3b vs. Gstr2a.
1) Status NOT SUBMITTED in GSTR 2A means vendor may have uploaded but GSTR1 return not submitted & not filed by vendor. Please check whether vendor has filed respective return.
2) If vendor has filed respective return and invoice NOT reflecting in your GSTR 2A means vendor may have missed entering your invoice in his GSTR1.
3) In both the above cases ITC will not be credited to you.
How can we treat the difference between ITC claimed and ITC aoto populated ?
If my party did not submit my details in his GSTR 1 and i have claimed the ITC input so now how can we treat/correct these fault ?
The difference between ITC claimed and ITC populated is an offence ?
Any penalty on the amount excess claimed ?
If the ITC on domestic purchase in F.Y. 2018-19 claimed exceed by 6 lakhs . find out when compare 2A, SO WHATS THE SOLUTION
Simple u do reconciliation after 30 june 2019 by comparing GSTR-2A & Ur Credit in books and if any Access then u Reverse the credit in June 3B and make sure u remember for this reversal as while filling GSTR-9 u need to mention the credit availed & Credit reversed of previous year in current year.
It is not an offence. You will have to reconcile the amounts in annual return and pay the difference of ITC claimed and ITC in permissible as per GSTR 2A.
U have to take Followup & if possible say ur seller to upload the bill if he dont u cant claim the credit and if u had already claimed the credit then reverse the credit for for more benefit i suggest to take full value with tax in ur icome statement and claim expense. If wrong ITC has been claimed than 18% interest is to be paid.
how to reverse the excess claimed itc of the year 2017-18 in the year 2018-19
There is part in GSTR-9 where excess credit u have to reverse for better i would suggest u to watch my video on GSTR-9 video on youtube and the Reconciliation of ITC.
Link is below.
https://www.youtube.com/channel/UCI51Buxl6jkk5PXLfTJMnng
tell your frds to subscribe my channel and share it with people shaaring same issue.
GST R9 FACED GST 3B AND GST R1 SUBITED THE RETURNS AS PER GST PORTAL FACED GST R 3B AND GST R1 AND GST R 2A ITC TH SUPPLIERS AFTER YEAR THE REPORT IN GST R 1 SO FOR GST R3B ITC GST R 2A ITC SMALL DIFFRENCE WHEN MISSED INOVICES WHEN ACCOUNT FOR GIVE ME TIME FOR AND ALSO SUBMITED THE INCOMETAX RERUN THAT YEAR AGAIN ACCOUNT FOR THE YEAR DIFF. COME HOW TO RECTFY PLEASE INFORM HELP FOR RECTICATION ITC PROBLEMS
you can claim in 3B of march 2019 and if u have already filled then you nedd to claim in GSTR-9