Confusion in ITC

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This query is : Resolved

Quick Summary

This discussion addresses confusion regarding the basis for claiming Input Tax Credit (ITC) for manufacturers filing monthly GSTR-1 and GSTR-3B. The core issue is determining the correct ITC amount when GSTR-2B shows less than the total ITC recorded in books, often due to suppliers not filing their GSTR-1. The advice suggests claiming ITC based on the higher figure shown in either GSTR-2A or GSTR-2B, with a note that GSTR-2A is updated more frequently. Further guidance recommends consulting official GST advisories for detailed information.

Rakesh Sharma

Rakesh Sharma (Querist)

17 January 2021 Respected Experts,

We are manufacturer and file GSTR-1 & GSTR 3B on monthly basis. Presently, we are very confused that what will be the basis of ITC. Let suppose our total ITC in books in Dec-20 is around 22 Lacs.
GSTR-2B shows around 18 lacs, in which some traders have not filed their GSTR-1. So how many ITC we can claim?

Also, guide us we have to file our GSTR 3B on 2B basis or 2A basis, if 2B basis, what will be the roll of GSTR 2A in presently scenario.

Kindly guide me.

Rakesh Sharma