TaxTMI 
TaxTMI 
Sir
If I m claiming excess credit in 3B as compared to shown in 2B, then what will be penal provisions under GST Act and rules ?
Will department disallow such credit if credit amount shown in next month 2B.
What if rule 36(4) not follow
15 Dec 2020 
4 Replies 
6157 Views Asked by
Input tax credit mismatch may require repayment with interest and can attract penalties; perform reconciliations and meet payment deadlines.
Claiming ITC in GSTR-3B beyond amounts reflected in 2B requires repayment of the excess with interest and may attract penalties; correct practice is to claim credit in the month it appears in 2B. Reconcile books with 2B, obtain timely supplier uploads, and reverse ITC with interest if invoices are not uploaded before annual filings. ITC is available on self assessment but is subject to repayment, interest, penalty risk, and payment related reversal conditions. (AI Summary)
Claiming ITC in GSTR-3B beyond amounts reflected in 2B requires repayment of the excess with interest and may attract penalties; correct practice is to claim credit in the month it appears in 2B. Reconcile books with 2B, obtain timely supplier uploads, and reverse ITC with interest if invoices are not uploaded before annual filings. ITC is available on self assessment but is subject to repayment, interest, penalty risk, and payment related reversal conditions. (AI Summary)