Clarification to deal with difference in Input Tax Credit (ITC) availed in Form GSTR-3B as compared to that detailed in Form GSTR-2A for the period 1-4-2019 to 31-12-2021

Clarification to deal with difference in Input Tax Credit (ITC) availed in Form GSTR-3B as compared to that detailed in Form GSTR-2A for the period 1-4-2019 to 31-12-2021 https://www.taxtmi.com/circulars?id=67334 Clarification governs reconciliation where ITC availed in Form GSTR-3B exceeds Form GSTR-2A for 1 April 2019-31 December 2021, affirming that rule-based additional credit was permissible only subject to the statutory payment condition for ITC and within specified rule limits for successive subperiods; it applies earlier guidance for pre-rule months, illustrates allowed and disallowed excesses where limits are breached, notes cumulative adjustment provisos for specified months, and states that from 1 January 2022 ITC is admissible only if reported by suppliers and communicated in Form GSTR-2B. en-us Fri, 28 Jul 2023 00:00:00 +0530 Thu, 25 Apr 2024 18:02:00 +0530 TaxTMI RSS Generator Clarification to deal with difference in Input Tax Credit (ITC) availed in Form GSTR-3B as compared to that detailed in Form GSTR-2A for the period 1-4-2019 to 31-12-2021 https://www.taxtmi.com/circulars?id=67334 Clarification governs reconciliation where ITC availed in Form GSTR-3B exceeds Form GSTR-2A for 1 April 2019-31 December 2021, affirming that rule-based additional credit was permissible only subject to the statutory payment condition for ITC and within specified rule limits for successive subperiods; it applies earlier guidance for pre-rule months, illustrates allowed and disallowed excesses where limits are breached, notes cumulative adjustment provisos for specified months, and states that from 1 January 2022 ITC is admissible only if reported by suppliers and communicated in Form GSTR-2B. Circulars GST - States Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67334