Quick Summary
GSTNhas enabled Form DRC-01C to deal with ITCmismatches between GSTR 2B and GSTR 3B, in accordance with the newly inserted rule 88D of the Central Goods and Services Tax Rules, 2017 (the CGST Rules) vide Notification No. 38/2023-Central Tax dated August 4, 2023. Relevant Rule: Rule 88D of
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FAQ :
Form DRC-01C is a new electronic form introduced by GSTN to notify registered persons about differences between the input tax credit (ITC) availed in their GSTR-3B return and the ITC available in their auto-generated statement in GSTR-2B.
It has been introduced to deal with mismatches in input tax credit (ITC) between GSTR-2B and GSTR-3B, as per the newly inserted Rule 88D of the CGST Rules.
If the ITC claimed in GSTR-3B exceeds the ITC available in GSTR-2B by a specified amount and percentage, the registered person will receive an intimation in Part A of Form DRC-01C.
The registered person has two options within seven days: either pay the excess ITC along with applicable interest using Form GST DRC-03, or explain the reasons for the difference on the common portal.
If the excess amount remains unpaid after the seven-day period, or if the provided explanation is not accepted by the proper officer, the amount will be demanded under Section 73 or Section 74 of the CGST Act.
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