Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1

Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1 https://www.taxtmi.com/circulars?id=65859 Registered persons must report place of supply-wise inter State supplies to unregistered persons, composition taxpayers and UIN holders in both outward statements and the return to ensure correct destination based settlement. Total ITC is auto populated from the inward statement into the return; registered persons must record absolute ineligible reversals and temporary reversible reversals in the designated reversal sub tables so that Net ITC equals auto populated total less these reversals and only that net amount is credited to the electronic credit ledger. en-us Mon, 05 Sep 2022 00:00:00 +0530 Thu, 15 Sep 2022 15:58:00 +0530 TaxTMI RSS Generator Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and reversal thereof in return in FORM GSTR-3B and statement in FORM GSTR-1 https://www.taxtmi.com/circulars?id=65859 Registered persons must report place of supply-wise inter State supplies to unregistered persons, composition taxpayers and UIN holders in both outward statements and the return to ensure correct destination based settlement. Total ITC is auto populated from the inward statement into the return; registered persons must record absolute ineligible reversals and temporary reversible reversals in the designated reversal sub tables so that Net ITC equals auto populated total less these reversals and only that net amount is credited to the electronic credit ledger. Circulars GST - States Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65859