https://www.taxtmi.com/forum/issue?id=120344 Interpretation of Net ITC for GST refund claims under Rule 89(4) and the effect of ITC reversals shown in GSTR-3B during the refund period, particularly where the reversals relate to earlier tax periods and not to the zero-rated supplies for which refund is claimed. The discussion concerns whether Para 43 of the CBIC circular requires all reversals reflected in the refund period return to be deducted from Net ITC, whether consolidated claims may offset a negative monthly figure against other months, and how related refund computations are affected by Rule 37A reversals and electronic credit ledger balances. en-us Tue, 12 Aug 2025 17:15:35 +0530 Tue, 24 Mar 2026 18:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120344 Interpretation of Net ITC for GST refund claims under Rule 89(4) and the effect of ITC reversals shown in GSTR-3B during the refund period, particularly where the reversals relate to earlier tax periods and not to the zero-rated supplies for which refund is claimed. The discussion concerns whether Para 43 of the CBIC circular requires all reversals reflected in the refund period return to be deducted from Net ITC, whether consolidated claims may offset a negative monthly figure against other months, and how related refund computations are affected by Rule 37A reversals and electronic credit ledger balances. Discussion-Forum GST Tue, 12 Aug 2025 17:15:35 +0530 https://www.taxtmi.com/forum/issue?id=120344