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TMI BlogIntroducing Electronic Credit Reversal and Reclaimed statementX X X X Extracts X X X X X X X X Extracts X X X X ..... Introducing Electronic Credit Reversal and Reclaimed statement - Goods and Services Tax - GST Dated:- 1-9-2023 - News - Vide Notification No. 14/2022 Central Tax dated 05th July, 2022 (read wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th circular 170/02/2022-GST, Dated 6th July,2022 ), the Government introduced certain changes in Table 4 of Form GSTR-3B so as to enable the taxpayers in reporting correct information regarding ITC a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vailed, ITC reversal, ITC re-claimed and ineligible ITC. The re-claimable ITC earlier reversed in Table 4(B)2 may be subsequently claimed in Table 4(A)5 on fulfilment of necessary conditions. Such rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laimed ITC in Table 4(A)5 also needs to be explicitly reported in Table 4D(1).. In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement is being introduced on the GST portal. This statement will help the taxpayers in tracking of their ITC tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t has been reversed in Table 4B(2) and thereafter re-claimed in Table 4D(1) and 4A(5) for each return period, starting from August return period. For a detailed advisory please click here . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Thanking you, Team GSTN - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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