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of <h1>Maharashtra GST Circular Stresses Accurate GSTR-3B Filing to Ensure Proper IGST Fund Allocation; Warns of Penalties for Errors.</h1> The circular from the Commissioner of State Tax, Maharashtra, addresses the importance of accurate GST return submissions, particularly GSTR-3B, as they affect the settlement and apportionment of IGST funds between the Centre and states. It highlights issues with incorrect reporting of Input Tax Credit (ITC), which can lead to short fund transfers to Maharashtra. Taxpayers are instructed to properly report eligible, reversed, and ineligible ITC in their returns. Errors in previous submissions must be corrected in subsequent returns or annual returns. Non-compliance may lead to scrutiny and penalties. The circular serves as a guideline and is not for legal interpretation.
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