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)

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)

26 January 2021 1. Applicable 2. Reverse the difference ITC in GSTR 3B

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)

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)

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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