https://www.taxtmi.com/article/detailed?id=10869 Amendments to Rule 37 (effective 01-07-2022) require reversal of input tax credit via Form GSTR-3B when a recipient fails to pay the supplier within 180 days, replacing the prior obligation to report proportionate unpaid value in Form GSTR-2. The change raises ambiguity whether the entire ITC or only a proportionate share must be paid when part payment remains unpaid, permits re availment of ITC upon subsequent payment to the supplier, and creates uncertainty on the correct start date for interest where an earlier sub rule prescribing interest from date of availment was omitted. en-us Tue, 13 Dec 2022 14:57:48 +0530 Tue, 13 Dec 2022 14:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10869 Amendments to Rule 37 (effective 01-07-2022) require reversal of input tax credit via Form GSTR-3B when a recipient fails to pay the supplier within 180 days, replacing the prior obligation to report proportionate unpaid value in Form GSTR-2. The change raises ambiguity whether the entire ITC or only a proportionate share must be paid when part payment remains unpaid, permits re availment of ITC upon subsequent payment to the supplier, and creates uncertainty on the correct start date for interest where an earlier sub rule prescribing interest from date of availment was omitted. Articles Goods and Services Tax - GST Tue, 13 Dec 2022 14:57:48 +0530 https://www.taxtmi.com/article/detailed?id=10869