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TMI BlogClarification relating to application of sub-rule (4) of rule 36 of the CGST Rules, 2017 for the months of February, 2020 to August, 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... elhi, the 9th October, 2020 To The Pr. Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All), The Principal Director Generals / Director Generals (All) Madam / Sir, Subject: Clarification relating to application of sub-rule (4) of rule 36 of the CGST Rules, 2017 for the months of February, 2020 to August, 2020 - reg. Vide Circular No. 123/4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... March, April, May, June, July and August, 2020 and that the return in FORM GSTR-3B for the tax period September, 2020 shall be furnished with the cumulative adjustment of input tax credit for the said months. 3. To ensure uniformity in the implementation of the said provisions across the field formations, the Board, in exercise of its powers conferred under section 168(1) of the CGST Act hereby ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f invoices uploaded by their suppliers of the said months, till the due date of furnishing FORM 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-secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Failure to reverse such excess availed ITC on account of cumulative application of sub-rule (4) of rule 36 of the CGST Rules would be treated as availment of ineligible ITC during the month of September, 2020. 4. The manner of cumulative reconciliation for the said months in terms of proviso to sub-rule (4) of rule 36 of the CGST Rules is explained by way of illustration, in a tabulated form, b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... August, 2020 200 200 150 TOTAL 2750 2750 2450 ITC Reversal required to the extent of 55 September, 2020 500 385 350 10% Rule shall apply independently for September, 2020 In the FORM GSTR-3B for the month of September, 2020, the tax payer shall avail ITC of 385 under Table 4(A) and would reverse ITC of 55 under Table 4(B)(2) 5. It is requested that suitable trade notices ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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