Reversal of credit under special circumstances [Section 18(4) & (5)]

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....re-availment thereof [ Rule 37A ] * ITC of additional duty of customs in respect of gold dore bar; [Rule 44A of CGST rules] Reversal of input tax credit in the case of non-payment of tax by the supplier and re-availment thereof [ Rule 37A ] * Where input tax credit has been availed by a registered person in the return in FORM GSTR-3B for a tax period in respect of such invoice or debit note, the details of which have been furnished by the supplier in the statement of outward supplies in FORM GSTR-1, "as amended in FORM GSTR-1A if any"(inserted vide NN. 12/2024 dated 10/07/2024) , or using the invoice furnishing facility, * but the return in FORM GSTR-3B for the tax period corresponding to the said statement of outward suppl....

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....voices on which credit had been availed by the registered taxable person on such inputs. * The reversal amount ,Inputs or capital goods, shall be determined separately for input tax credit of central tax, State tax, Union territory tax and integrated tax. * Where the tax invoices related to the inputs held in stock are not available, * the registered person shall estimate the amount , the prevailing market price of the goods on the effective date of the occurrence of any of the events specified in special circumstances above. * The details furnished shall be duly certified by a practicing chartered accountant or cost accountant. * The amount determined shall form part of the output tax liability of the registered person and the d....