Manner of dealing with difference in input tax credit available in auto-generated statement containing the details of input tax credit and that availed in return

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....ion in respect of excess ITC availed [ Rule 88D(1) ] Where the amount of input tax credit availed by a registered person in the return for a tax period or periods furnished by him in FORM GSTR-3B exceeds the input tax credit available to such person in accordance with the auto-generated statement containing the details of input tax credit in FORM GSTR-2B in respect of the said tax period or peri....

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....it availed intimation [ Rule 88D(2) ] Upon receipt of the intimation to a registered person referred under rule 88D(1) can availed any one option within a period of seven days., either, Payment equal to excess credit :- (a) pay an amount equal to the excess input tax credit, as specified in Part A of FORM GST DRC- 01C, fully or partially, along with interest payable under section 50,....

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....er officer, the said amount shall be liable to be demanded in accordance with the provisions of section 73 or section 74 [or Section 74A inserted w.e.f. 01.11.2024 vide N.No. 20/2024-CT dated 08.10.2024], as the case may be. Important Notification & Circular * Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit an....