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Table 4(B)(2), taxpayers need to report all reclaimable reversals here, such as ITC restricted
Rule 37 of the CGST Rules - Non-payment of the sale consideration within 180 days.
Section 16(2)(b) of the CGST Act - Where the goods or services have not been received yet.
Section 16(2)(c) of the CGST Act - where the suppliers have not paid their GST Tax dues as per GSTR-3B.
When reporting the accumulated balance of reversed ITC, it is important to take into account only those ITC which were previously reversed in GSTR-3B Table 4B(2) but are eligible for re-claim and have not yet been re-claimed.
Re-claimable ITC such as on account of rule 37 of CGST Rules, Section 16(2)(b), Section 16(2)(c) of the CGST Act shall beet ITC reported here. Inadvertently availed ITC may also be reversed here.
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9 сен 2024