https://www.taxtmi.com/circulars?id=64403 Clarification: sub-rule (4) of rule 36 applies cumulatively for February-August, 2020 and reconciliation must be done against supplier-uploaded invoices available in GSTR-2A up to the due date of GSTR-1 for September, 2020. Cumulative ITC availed in GSTR-3B for those months must not exceed a prescribed percentage-based cap computed from uploaded eligible invoices; any excess ITC identified must be reversed in Table 4(B)(2) of the GSTR-3B for September, 2020, with the substantive entitlement limits under section 16 remaining applicable. en-us Fri, 09 Oct 2020 00:00:00 +0530 Fri, 09 Oct 2020 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64403 Clarification: sub-rule (4) of rule 36 applies cumulatively for February-August, 2020 and reconciliation must be done against supplier-uploaded invoices available in GSTR-2A up to the due date of GSTR-1 for September, 2020. Cumulative ITC availed in GSTR-3B for those months must not exceed a prescribed percentage-based cap computed from uploaded eligible invoices; any excess ITC identified must be reversed in Table 4(B)(2) of the GSTR-3B for September, 2020, with the substantive entitlement limits under section 16 remaining applicable. Circulars GST Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64403