Clarification relating to application of sub-rule (4) of rule 36 of the BGST Rules, 2017 for the months of February, 2020 to August, 2020 - reg.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....: CBIC Circular No. 142/12/2020-GST dated 09.10.2020 Vide Commercial Taxes Department Circular No. Bikri-kar/Vividh-28/2018-847 dated-28.04.2020, various issues relating to implementation of sub-rule (4) of rule 36 of the Bihar Goods and Services Tax Rules, 2017 (hereinafter referred to as the BGST Rules) relating to availment of input tax credit (ITC) in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37 of the Bihar Goods and Services Tax Act, 2017 (hereinafter referred to as the BGST Act) were clarified. 2. Keeping the situation prevailing in view of measures taken to contain the spread of COVID-19 pandemic, vide Commercial Taxes Department notificati....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....M GSTR-1 for the month of September, 2020. The cumulative amount of ITC availed for the said months in FORM GSTR-3B should not exceed 110% of the cumulative value of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37 of the BGST Act, till the due date of furnishing of the statements in FORM GSTR-1 for the month of September, 2020. 3.3 It may be noted that availability of 110% of the cumulative value of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37 of the BGST Act does not mean that the total credit can exceed the tax....