https://www.taxtmi.com/news?id=27821 A new RCM Liability/ITC Statement on the GST Portal requires reporting of RCM liabilities from Table 3.1(d) of GSTR-3B and corresponding ITC from Table 4A(2) and 4A(3) of GSTR-3B for each return period. Taxpayers must report an opening balance reflecting excess paid liability (positive) or excess claimed ITC (negative). RCM ITC reversals previously recorded in Table 4(B)2 may be reclaimed only through Table 4A(5) and are not to be included in the opening balance. Deadlines and a limited amendment window for declaring and rectifying opening balances are prescribed. en-us Sat, 24 Aug 2024 13:49:43 +0530 Sat, 24 Aug 2024 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27821 A new RCM Liability/ITC Statement on the GST Portal requires reporting of RCM liabilities from Table 3.1(d) of GSTR-3B and corresponding ITC from Table 4A(2) and 4A(3) of GSTR-3B for each return period. Taxpayers must report an opening balance reflecting excess paid liability (positive) or excess claimed ITC (negative). RCM ITC reversals previously recorded in Table 4(B)2 may be reclaimed only through Table 4A(5) and are not to be included in the opening balance. Deadlines and a limited amendment window for declaring and rectifying opening balances are prescribed. News - Sat, 24 Aug 2024 13:49:43 +0530 https://www.taxtmi.com/news?id=27821