https://www.taxtmi.com/circulars?id=67556 Clarification directs cumulative reconciliation of ITC for February-August 2020 under sub-rule (4) of rule 36 of the CGST Rules, requiring taxpayers to reconcile ITC claimed in GSTR-3B with supplier-uploaded invoice details available until the GSTR-1 due date for September 2020. The cumulative ITC availed for those months must not exceed 110% of the cumulative eligible credit reflected by supplier uploads, subject to the ceiling under section 16, and any excess must be reversed in Table 4(B)(2) of GSTR-3B for September 2020. en-us Wed, 14 Oct 2020 00:00:00 +0530 Fri, 21 Jun 2024 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67556 Clarification directs cumulative reconciliation of ITC for February-August 2020 under sub-rule (4) of rule 36 of the CGST Rules, requiring taxpayers to reconcile ITC claimed in GSTR-3B with supplier-uploaded invoice details available until the GSTR-1 due date for September 2020. The cumulative ITC availed for those months must not exceed 110% of the cumulative eligible credit reflected by supplier uploads, subject to the ceiling under section 16, and any excess must be reversed in Table 4(B)(2) of GSTR-3B for September 2020. Circulars GST - States Wed, 14 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67556