New Rule 36(4) has been inserted, which is as follows:
Input tax credit to be availed by a registered person 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, shall not exceed 10 percent. 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 section37.
Explanation: A registered person could avail ITC on invoices or debit notes which are not reflected in GSTR-2A to the extent of 10% of the eligible ITC reflected in GSTR-2A.
As GSTR-3B is the monthly return and most of the parties are filing their GSTR-1 Quarterly hence, it’ll be not possible to consider the GSTR-2A for the same. In this situation, we can take input invoice wise as usual and there’ll be the possibility for reversal of ITC at the end of quarter if invoices not reflected in quarterly GSTR-2A
0 Comments