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If ITC Value display Negative in GSTR 3B then how to resolve it in Marg Software ?

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Ans.1

Cause:

This issue appears when the Tax value of Purchase Return is more than the Tax value Purchase in a particular period.

  • Suppose the user is viewing GSTR3b for 'Jan' Month.
  • ITC Value is negative '-117.57'.

  • Now generate the Purchase Book for Jan Month, the user can view Tax value is '32.43'.

  • Thereafter generate Purchase Return for Jan Month, the user can view Tax Value is '150'.

  • Purchase Tax - Purchase Return Tax = ITC Value
  • 32.43 - 150 = -117.57

When the Purchase Return Tax is more than the Purchase Tax for a particular period, then ITC Value displays Negative in GSTR 3B in Marg Software.

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