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TMI BlogClarification relating to application of sub-rule (4) of rule 36 of the WBGST 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 ..... est Bengal Goods and Services Tax Rules, 2017 (hereinafter referred to as the WBGST 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 West Bengal Goods and Services Tax Act, 2017 (hereinafter referred to as the WBGST Act) were clarified. 2. Keeping the situation prevailing in view of measures taken to contain the spread of COVID-19 pandemic, vide notification No. 462-FT, dated 15.04.2020, it had been prescribed that the condition made under sub-rule (4) of rule 36 of the WBGST Rules shall apply cumulatively for the tax period February, March, April, May, June, July and August, 2020 and that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich have been uploaded by the suppliers under sub-section (1) of section 37 of the WBGST 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 WBGST Act does not mean that the total credit can exceed the tax amount as reflected in the total invoices for the supplies received by the taxpayer i.e. the maximum credit available in terms of provisions of section 16 of the WBGST Act. 3.4 The excess ITC availed arising out of reconciliation during this pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 500 500 450 May, 2020 350 350 320 June, 2020 450 450 400 July, 2020 550 550 480 August, 2020 200 200 150 TOTAL 2750 2750 2450 ITC Reversal required to the extent of 55 September, 2020 500 385 350 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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