In the books of company in Daman & Diu, you have to record an adjustment transaction to reverse the remaining input tax credit. This reversal amount is reported in the table 4(B)(2)Others in GSTR-3B.
1. G ateway of Tally > Accounting Vouchers > Press F7 (Journal).
2. Select the type of statutory adjustment.
o Press Alt+J (Stat Adjustment).
o Select GST as the Type of duty/tax .
o Select Reversal of Input Tax Credit as the Nature of adjustment and Others as Additional Details .
o Press Enter .
3. Select the Debit and Credit ledgers and enter the values.
o Debit Reversal of ITC ledger created under Current Assets or Expenses and enter the debit value.
o Credit the Integrated Tax , Central Tax and UT Tax ledgers and enter the credit values against respective ledgers. The total of credit should be equal to debit.
o Accept the GST Details screen without entering any values.
4. Press Enter to save the transaction.
T he reversal ITC value will appear in GSTR-3B as shown.
Post transition, you can reclaim the reversed ITC in the books of Dadra & Nagar Haveli and Daman & Diu. The reclaimed value appears in the table 4(A)(5) of GSTR-3B.
1. Gateway of Tally > Accounting Vouchers > F7 (Journal).
2. Select the type of statutory adjustment.
o Press Alt+J (Stat Adjustment).
o Select GST as the Type of duty/tax.
o Select Increase of Input Tax Credit as the Nature of adjustment and Transfer of ITC as Additional Details .
o Press Enter .
3. Select the Debit and Credit ledgers and enter the values.
o Debit the Integrated Tax, Central Tax and UT Tax ledgers and enter the debit values against respective ledgers.
o Credit Reclaim of ITC ledger created under Current Assets or Income and enter the credit value. The credit value should be equal to total of debit.
o Accept the GST Details screen without entering any values.
4. Specify the details of type of goods for which this ITC is applicable.
o Set the option Provide GST details? to Yes .
o Select Goods or Services or Capital Goods in the Type of Input field.
o Press Enter .
5. Press Enter to save the transaction.
T he reclaimed ITC value will appear in GSTR-3B as shown.
'Manage Reveral and Reclaim of ITC for UT Merger Transition' has been shared with
