TaxTMI 
TaxTMI 
In newly reversal and reclaim statement which date opening value we need to put today or 1st Aug'23.
MKJAIN
Reversal and reclaim staement
19 Oct 2023 
3 Replies 
1030 Views Asked by
Reversal and reclaim statement: opening balance should reflect reversals up to the applicable prior period and include eligible unreversed credits.
The opening balance in the reversal and reclaim statement is determined by reversals up to the applicable reporting cut off, not by the filing date; monthly filers should report reversals effected through the cut off period and must include any eligible input tax credits not explicitly reversed but available to be reclaimed in future periods. (AI Summary)
The opening balance in the reversal and reclaim statement is determined by reversals up to the applicable reporting cut off, not by the filing date; monthly filers should report reversals effected through the cut off period and must include any eligible input tax credits not explicitly reversed but available to be reclaimed in future periods. (AI Summary)