Difference adjustment itc in gst

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This discussion addresses the discrepancy between Input Tax Credit (ITC) claimed in GSTR-3B and that reflected in GSTR-2A/2B for the financial year 2020-21. It clarifies whether Rule 36(4) was followed and explains the procedure for adjusting the ITC difference in GSTR-3B returns. While compulsory reversal of ITC isn't always required, taxpayers must be ready to justify any differences.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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25 January 2021 Sir,
A gst registered dealer tax liability and itc statement summary download in finicial year 20-21 download as per gst portal details below mentioned upto December-20.
Itc claimed as per gstr 3b Rs:10,32,127/-
Itc claimed as per gstr2a/gstr2b Rs:8,93,993/-
Question:
1.Dealer rule 36(4) itc claimed followed or not followed
2. Difference itc adjustment producer show in gstr 3b returns.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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26 January 2021 1. Applicable 2. Reverse the difference ITC in GSTR 3B

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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26 January 2021 Sir, dealer itc claimed every month return filed receiveing invoices only itc claimed dealer difference itc reverse compulsory

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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26 January 2021 No need to compulsorily reverse ITC but you have to be prepared for clarify the reason for difference in ITC Claimed and as shown in GSTR 2A

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