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TMI BlogClarification relating to application of sub-rule (4) of rule 36 of the MGST 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 ..... ed by the CBIC Central Board of Indirect Taxes and Customs (CBIC) has issued the above referred circular. For the uniformity, it has been decided that the said circular issued by the CBIC is being made applicable, mutatis mutandis, in implementation of the MGST Act, 2017. Copy of the referred CBIC circular is attached herewith. This Trade Circular is clarificatory in nature. Difficulty if any, in the implementation of this Circular may be brought to the notice of the office of the Commissioner State Tax, Maharashtra. Yours faithfully, (Sanjeev Kumar) Commissioner of State Tax, Maharashtra State, Mumbai. Circular No. 142/12/2020- GST F. No. CBIC/20/06/14/2020-GST Government of India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M 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 clarifies certain issues in succeeding paragraphs. 3.1 It is re-iterated that the clarifications issued earlier vide Circular No. 123/42/2019 GST dated 11.11.2019 shall still remain applicable, except for the cumulative application as prescribed in proviso to sub-rule (4) of rule 36 of the CGST Rules. Accordingly, all the taxpayers are advised to ascertain the details of invoices ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct. 3.4 The excess ITC availed arising out of reconciliation during this period, if any, shall be required to be reversed in Table 4(B)(2) of FORM GSTR -3B , for the month of September, 2020. 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, below. Table I Tax period Eligible ITC as per the provisions of Chapte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 may be issued to publicize the contents of this Circular. Hindi version will follow. 6. Difficulty, if any, in implementation of this circular may please be brought to the notice of the Board. (Yogendra Garg) Principal Commissioner (GST) [email protected] - Circular - Trade Noti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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