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of <h1>Maharashtra GST Office Clarifies Rule 36(4) for Feb-Aug 2020; ITC Not to Exceed 110% of Eligible Credit.</h1> The Trade Circular issued by the Maharashtra State GST office clarifies the application of sub-rule (4) of rule 36 of the MGST Rules, 2017, for the period from February to August 2020. This follows a similar circular by the CBIC, ensuring uniformity in the implementation of GST provisions. Taxpayers must reconcile their input tax credit (ITC) for these months against supplier-uploaded invoices by the due date for September 2020 returns. ITC availed should not exceed 110% of eligible credit. Any excess ITC must be reversed in the September 2020 return to avoid being treated as ineligible ITC.
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