Punishable ITC Mismatched Monthly or Yearly

Please let me know ...

What is the Basis of  ITC Mismatched is Punishable Offence ?

1) Monthly Return Basis ( Monthly GSTR 2A)

             Or 

2) Yearly Return Basis ( GSTR-9)

Replies (2)
Quick Summary
This discussion explores the penalties associated with Input Tax Credit (ITC) mismatches in GST. It questions whether the punishment is based on monthly returns (GSTR 2A) or the annual return (GSTR 9). The thread notes that prior to September 2020, consolidated matching was acceptable, but monthly reconciliation is now the standard and will become even stricter. It seeks clarification on the specific circulars or notifications defining the ITC matching period.

Till September 2020 if matched consolidated basis there is no problem.
After that matching is monthly.
From next financial year it will be more stringent
Please provide the circular or notification regarding ITC matching time period

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