https://www.taxtmi.com/article/detailed?id=12916 Taxpayers must declare an opening balance in the RCM Liability/ITC Statement when there is a mismatch between RCM tax paid and ITC claimed in GSTR 3B: disclose a positive opening balance where RCM paid exceeds ITC claimed (and was not reversed), and disclose a negative opening balance where ITC claimed exceeds RCM paid. No disclosure is required when there is no mismatch, when lower ITC reflects ineligible credit, or when short availments were already recorded as temporary reversals intended for future reclaim. en-us Thu, 12 Sep 2024 10:40:46 +0530 Thu, 12 Sep 2024 10:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12916 Taxpayers must declare an opening balance in the RCM Liability/ITC Statement when there is a mismatch between RCM tax paid and ITC claimed in GSTR 3B: disclose a positive opening balance where RCM paid exceeds ITC claimed (and was not reversed), and disclose a negative opening balance where ITC claimed exceeds RCM paid. No disclosure is required when there is no mismatch, when lower ITC reflects ineligible credit, or when short availments were already recorded as temporary reversals intended for future reclaim. Articles Goods and Services Tax - GST Thu, 12 Sep 2024 10:40:46 +0530 https://www.taxtmi.com/article/detailed?id=12916