Excess Input Tax Credit claimed in 3B of F.Y. 2017-18 and not reversed in 3B of F.Y.2018-19 and effect have given through DRC-03 in GSTR-9 of Financial Year 2018-19.
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Excess Input Tax Credit claimed in 3B of F.Y. 2017-18 and not reversed in 3B of F.Y.2018-19 and effect have given through DRC-03 in GSTR-9 of Financial Year 2018-19.
Herewith I giving with the example for your better understanding.
Illustration-4.
“A” Tax Payer purchased inward supply of goods worth Rs.1,00,000/- as per books. The rate of GST is @12% for the year 2017-18. He was filed GSTR-3B and mentioned inward supply of goods by mistake worth of Rs.1,10,000/- and claimed Input Tax credit of Rs.13,200/- only for the year 2017-18.
In the year of 2018-19, he was purchased inward supply of goods worth of Rs.1,50,000/- as per books and the GST rate is @12% as per books and he was filed GSTR-3 B and mentioned in GSTR-3B inward supply of goods worth of Rs.1,50,000/- and claimed an Input tax credit of Rs.18,000/- as per GSTR-3B. Now we have to prepare a statement for how much he has to show Input tax credit in GSTR-9 and the impact of GSTR-9C for the year 2018-19.
Ans: 2017-18 & 2018-19:
| Year | Table | Description | Amount in Rs. |
| 2017-18 | As per books of accounts eligible for ITC | 12000-00 | |
| As per GSTR-3B claimed ITC on inward supply | 13,200-00 |
GSTR-9 17-18 presentation:
| Table-6 | Detailed of Input tax credit availed during the F.Y | 13,200-00 |
| Table -7 | Details of Input Tax Credit Reversed and Ineligible ITC for the financial year | NIL |
| Table-12 | Reversal of Input Tax Credit availed during the previous financial year | 1,200-00 |
| Table-13 | Input Tax Credit availed for the previous F.Y | NIL |
2018-19: Presentation:
| Year | Table | Description | Amount in Rs. |
| 2018-19 | As per books of accounts eligible for ITC | 18,000-00 | |
| As per GSTR-3B claimed ITC on inward supply | 18,000-00 |
GSTR-9 of 2018-19.
| Table-6 | Details of Input Tax Credit availed during the Financial year | 18,000-00 |
| Table-7F | Reversal of TRAN-1 credit | 1,200-00 |
| Table -8D | Difference (A-(B+C) | NIL |
| Table 8E | Input Tax Credit available but not availed (out of D) | NIL |
| Table-12 | Reversal of Input Tax Credit availed during previous F.Y | NIL |
| Table -13 | Input Tax Credit availed for the previous F.Y | 1,200-00 |
Total of 2 years: As per books: Rs.30,000-00
As per GSTR-3B+ Short Credit/Lapsed Credit= Rs.30,000-00
As per GSTR-9+ Short Credit / Lapse Credit=Rs.30,000-00
How to show the above Excess of Input Tax Credit Claimed for the F.Y 2017-18 in GSTR-9C for the F.Y 2018-19 and what is the impact on GSTR-9C of F.Y.2018-19.
Form GSTR-9C relevant Colum’s: 2018-19.
| Table -12 A | Input Tax Credit as per Audited Financial Statement for the State/Union Territory as per books of accounts of PAN Holder all over India | 18000-00 |
| Table-12B | Input Tax Credit booked in earlier financial years claimed in the current financial year | (-)1200-00 |
| Table-12C | Input Tax Credit booked in the current financial year to be claimed in subsequent financial years | Nil |
| Table-12D | Input Tax Credit availed as per audited financial statements or books of account | 6,000-00 |
| Table-12E | Input Tax Credit claimed in annual return GSTR-9 (2018-19) | 6,000-00 |
| Table-12F | Un-reconciled Input Tax Credit i.e. Input tax credit booked in books but not claimed in GSTR-3B of F.Y.2018-19. | NIL |
| Imp: Note: | DRC 03 for Input Tax Credit reversal (With Interest applicable) | 1,200-00 |
Optional reporting: If Input Tax Credit reversed and paid through DRC-03 not shown in 7H of GSTR-9 then there should be a difference of Rs.1,200-00 in Table 12E of GSTR-9C for which reason required to mention in 12F.
Dear Colleagues, I have provided Illustration-4 on Excess Input Tax Credit claimed in GSTR-3B for the F.Y.2017-18 and not reversed in GSTR-3B of F.Y 2018-19. The effect given through DRC-03 in GSTR-9 of F.Y.2018-19.
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