TaxTMI 
TaxTMI 
Introducing Electronic Credit Reversal and Reclaimed statement
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....ntroducing Electronic Credit Reversal and Reclaimed statement <br>GST<br>Dated:- 1-9-2023<br><BR>"Vide Notification No. 14/2022 - Central Tax dated 05th July, 2022 (read with circular 170/02/2022-GST,....
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.... Dated 6th July,2022), the Government introduced certain changes in Table 4 of Form GSTR-3B so as to enable the taxpayers in reporting correct information regarding ITC availed, ITC reversal, ITC re-c....
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....laimed and ineligible ITC. The re-claimable ITC earlier reversed in Table 4(B)2 may be subsequently claimed in Table 4(A)5 on fulfilment of necessary conditions. Such reclaimed ITC in Table 4(A)5 also....
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.... needs to be explicitly reported in Table 4D(1).. In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical mistakes, a new ledg....
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....er namely Electronic Credit and Re-claimed Statement is being introduced on the GST portal. This statement will help the taxpayers in tracking of their ITC that has been reversed in Table 4B(2) and th....
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....ereafter re-claimed in Table 4D(1) and 4A(5) for each return period, starting from August return period. For a detailed advisory please click here ." Thanking you, Team GSTN<BR> News - Press release....
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.... - PIB....