TaxTMI 
TaxTMI 
TaxTMI 
Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C
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....dvisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C <br>GST<br>Dated:- 16-11-2023<br><BR>Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-3B Dear ....
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....Taxpayers, 1. It is informed that GSTN has developed a functionality to generate automated intimation in Form GST DRC-01C which enables the taxpayer to explain the difference in Input tax credit avai....
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....lable in GSTR-2B statement & ITC claimed in GSTR-3B return online as directed by the GST Council. This feature is now live on the GST portal. 2. This functionality compares the ITC declared in GSTR-3....
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....B/3BQ with the ITC available in GSTR-2B/2BQ for each return period. If the claimed ITC in GSTR 3B exceeds the available ITC in GSTR-2B by a predefined limit or the percentage difference exceeds the co....
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....nfigurable threshold, taxpayer will receive an intimation in the form of DRC-01C. 3. Upon receiving an intimation, the taxpayer must file a response using Form DRC-01C Part B. The taxpayer has the op....
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....tion to either provide details of the payment made to settle the difference using Form DRC-03, or provide an explanation for the difference, or even choose a combination of both options. 4. In case, ....
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....no response is filed by the impacted taxpayers in Form DRC-01C Part B, such taxpayers will not be able to file their subsequent period GSTR-1/IFF. Thanking you, Team GSTN<BR> News - Press release - ....
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....PIB....