Input Tax Credit reversal and re availment rules clarified, consolidating reporting and reversals in the primary GST return form. The amendment consolidates reporting and compliance by removing references to FORM GSTR-2, omitting several legacy forms and rules, and aligning reporting and reversals of input tax credit to FORM GSTR-3B. It inserts non-filing conditions in rule 21, substitutes rule 37 to require repayment of input tax credit with interest where supplier payments are not made within the statutory time-limit and permits re-availment upon subsequent payment, and updates refund and procedural provisions accordingly.
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Provisions expressly mentioned in the judgment/order text.
Input Tax Credit reversal and re availment rules clarified, consolidating reporting and reversals in the primary GST return form.
The amendment consolidates reporting and compliance by removing references to FORM GSTR-2, omitting several legacy forms and rules, and aligning reporting and reversals of input tax credit to FORM GSTR-3B. It inserts non-filing conditions in rule 21, substitutes rule 37 to require repayment of input tax credit with interest where supplier payments are not made within the statutory time-limit and permits re-availment upon subsequent payment, and updates refund and procedural provisions accordingly.
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