Analysis of New Disclosures in GSTR-3B
The 47th meeting of the GST council was held on 28th, and 29th June 2022. The GST council advised clarifying the furnishing of correct and relevant information on supplies of inter-state and the amount of blocked input tax credit as well as inverted thereof in form GSTR-3B.
The new modifications to the rules were furnished in Form-3B vide notification no 14/022-CT dated July 5th, 2022 with a clarification on the modified disclosures in circular no. 170/02/2022-GST dated 6th July 2022.
The modified changes are now incorporated by GSTN from august of 2022 in GSTR-3.
The taxpayers are now required to report their input tax credit (ITC) availment, inverted input tax credit (ITC), and ineligible/blocked input tax credit (ITC) carefully according to the new format of table 4 mentioned in the GSTR-3B in the GST portal.
A brief revised input tax credit (input tax credit (input tax credit (input tax credit (ITC) table 4 of GSTR 3B
Table No |
As per amended in GSTR3B |
As per old GSTR-3B |
4A. Input Tax Credit (ITC) available (either in part or full) |
||
4A(1) |
Import of Goods |
Import of goods |
4A(2) |
Import of services |
Import of services |
4A(3) |
Inward supplies liable for invert charge (other than 1 and 2 above) |
Inward supplies liable for invert charge (other than 1 and 2 above) |
4A(4) |
Inward supplies from ISD |
Inward supplies from ISD |
4A(5) |
All other input tax credit (ITC) |
All other input tax credit (ITC) |
4B. input tax credit (input tax credit (input tax credit (input tax credit (ITC) reserved |
||
4B(1) |
According to regulations 42 and 43 of CGST Rules |
According to the regulations 38, 42, and 43 of CGST regulations and sub-section (5) of section 17 |
4B(2) |
Others |
Others |
4D. Other details |
||
4D(1) |
Ineligible input tax credit (ITC): As per section 17(5) |
Additional information: input tax credit (ITC) reclaimed which was inverted as per table 4(B)(2) in earlier tax duration |
4D(2) |
Ineligible input tax credit (ITC): Others |
Additional information- Ineligible input tax credit (ITC) under section 16(4) and (ITC) limited due to PoS conditions |
Disclosures in GSTR-3B for the transactions of August 2022 and following
1 |
input tax credit (ITC) on inward supplies (invoice) |
August-2022 |
August-22 |
Claim in GSTR-3B table A(5) |
Not applicable |
2 |
input tax credit (ITC) on inward supplies (invoice) |
August-2022 |
September-22 or following time |
No action and keep records of the same for the upcoming month |
Claim in GSTR-3B table 4A(5) |
3 |
input tax credit (ITC) on inward supplies (invoice) |
August-2022 |
Not available |
You can not avail input tax credit (ITC) for the time till same is available in the GSTR-2 and keep the records of the same for the upcoming month |
You can not avail input tax credit (ITC) for the time till same is available in the GSTR-2. The invoice-discerning details require to be kept a record of as “books only-eligible input tax credit (ITC)” in books |
4 |
input tax credit (ITC) on inward supplies (invoice) |
Sep-2022 |
August-22 |
1. Claim in GSTR-3B table 4A(5) 2. Reverse in GSTR-4B(2)-momentary inverted |
Claim in GSTR-3B table 4A(5) 2. Disclose in table 4D(1). |
5 |
inverted of input tax credit (ITC) n inward supplies (credit notes) |
Not available |
August-22 |
1. Claim in GSTR-3B table 4A(5) 2. Reverse in GSTR-4B(2)-momentary inverted |
After the annual reconciliation also if the input tax credit (ITC) is not pertaining to the taxpayers then the following shall be disclosure- Claim in GSTR-3B table 4A(5) 2. Reverse amount in table 4B(1)- permanent inverted. 3. Disclose in table 4D(1). If recorded in books in the later period, same as case 4 |
6 |
inverted of input tax credit (input tax credit (ITC) n inward supplies (credit notes) |
August-2022 |
August-22 |
CN would auto-populate in $B(2) however, it is not considered an inverted under rule 38,42,43 or section 17(5) and neither a momentary inverted. |
Not applicable |
7 |
inverted of input tax credit (ITC) n inward supplies (credit notes) |
August-22 |
September-22 or the following time |
Reverse in table 4A(5)-net off from all other input tax credit (ITC) |
Amount which would be auto-populated in the table 4B(2) is needed to be removed as the input tax credit (ITC) s already inverted in august-22 |
8 |
inverted of input tax credit (ITC) n inward supplies (credit notes) |
Sep-2022 or following period |
August-22 |
Amount which would be auto-populated in GSTR-3B – table 4A(5) or table 4B(2) is required to be removed. Suggested to keep a track of the same and looking out for the vendor clarifications of the identical |
CN would auto-populate in 4B(2). however, It is not inverted under rules 38,42,43 or section 17(5), and neither a momentary inverted. Consider as gross off in table 4A(5). |
9 |
inverted of input tax credit (ITC) on inward supplies (credit notes) |
August-22 |
Not available |
CN would auto-populate in 4B(2). however, It is not an inverted under rules 38,42,43 or section 17(5), and neither is a momentary inverted. Consider as gross off in the table 4A(5). . |
Not applicable |
10 |
inverted of input tax credit (ITC) n inward supplies (credit notes) |
Not available |
August-22 or following time |
Amount which would be auto-populated in GSTR-3B table 4B(2) is required to be removed. It is advised to maintain the record's track of the same and look out for the vendor clarifications of the identical |
Not applicable |
11 |
Invoice is dated August 2022 and stock not obtained in August 2022 but received in September 2022 for a later period. Accounted for in August-22 itself. |
August-22 |
August-22 |
1. Claim in GSTR-3B Table 4A(5) 2. Reverse in 4B(2) – momentary inverted |
1. Claim the amount in Table 4A(5) 2. Disclose in Table 4D(1). Regardless proclamations shall be in September-2022 or in afterward based on the month in which stock is obtained. |
12 |
inverted of input tax credit (ITC) due to payment not made within 180 days and reclaim in |
inverted accounting in August-22 |
Any month |
Reverse amount in Table 4B(2) – momentary inverted |
To reclaim input tax credit (ITC) in 3B upon payment to the vendor – 1. Claim the amount in Table 4A(5)2. Disclose in Table 4D(1) |
13 |
inverted of input tax credit (ITC) due payment not made within 180 days and reavail in an afterward period u/s 37 |
inverted accounting in August-22 |
Not available |
Reverse amount in Table 4B(2) – momentary inverted |
Where input tax credit (ITC) was otherwise eligible (covered in a buffer of 105% of (ITC) claim) – 1. Claim the amount in Table 4A(5)2. Disclose in Table 4D(1)Where input tax credit (ITC) was otherwise not eligible (may not be covered in the buffer of 105% claim), input tax credit (ITC) may not be claimed again. |
14 |
inverted of ineligible input tax (input tax credit (ITC) under rule 42/43 and mechanism to reavail incorrect inverted if there any |
August-22 |
August-22 |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted (Reverse proportionate amount) |
This method is only for rectification of excess inverted input tax credit (ITC) and track of the same needs to be maintained 1. Claim proportionate amount in Table 4A(5) 2. Disclose in Table 4D(1) |
15 |
inverted of ineligible input tax (ITC) under rule 42/43 and mechanism to reavail incorrect inverted if there any |
September-22 |
August–22 |
1. Declare the full amount in Form GSTR-3B Table 4A(5) 2. Reverse in 4B(2) – momentary inverted (Reverse entire amount ) |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted (Reverse proportionate amount) 3. Disclose in Table 4D(1) |
16 |
inverted of ineligible input tax credit (ITC) under rule 42/43 and mechanism to reavail incorrect inverted if there any |
August-22 |
Not available |
input tax credit (ITC) of the proportionate amount is not available till the time the same is obtainable in GSTR-2B. |
Input tax credit (ITC)) can not be declared till the time is the same as available in GSTR-2B. The invoice-wise information is required to be maintained as “books only- eligible input tax credit” in books. |
17 |
inverted of ineligible input tax credit (ITC) under rule 42/43 and mechanism to reavail incorrect inverted if there any |
August-22 |
September-22 or following time |
No activity and maintain track of the same for the following months. |
1. Claim the full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted (Reverse proportionate amount) |
18 |
inverted of ineligible input tax credit (ITC) under section 17(5) and mechanism to reavail incorrect inverted if there any |
August-22 |
August-22 |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted full amount |
Not applicable |
19 |
inverted of ineligible input tax credit (ITC) under section 17(5) and mechanism to reavail incorrect inverted if there any |
September 22 |
August-22 |
1. Declare the full amount in Form GSTR-3B Table 4A(5). 2. Reverse in 4B(2) – momentary inverted (Reverse entire amount) |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted full amount 3. Disclose in Table 4D(1) |
20 |
inverted of ineligible input tax credit (ITC) under section 17(5) and mechanism to reavail incorrect inverted if there any |
August-22 |
Not available |
keep the records of the same for the following month's |
input tax credit (ITC) cannot be availed/inverted till the time the same is available in GSTR-2B. The invoice-wise information is required to be kept a record as “books only- ineligible input tax credit (ITC)” in books. |
21 |
inverted of ineligible input tax credit (ITC) under section 17(5) and mechanism to reavail incorrect inverted if there any |
August-22 |
September-22 or the following time |
Maintain the records of the same for the following months |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – permanent inverted full amount |
22 |
input tax credit (ITC) on import of services |
August-22 |
Neither applicable nor available |
Claim full amount in Table 4A(2) |
Not applicable |
23 |
input tax credit (ITC) on import of goods |
August-22 |
August-22 |
Claim full amount in Table 4A(1) |
Not applicable |
24 |
input tax credit (ITC) on import of goods |
August-22 |
Not available |
Claim full amount in Table 4A(1). It is advised to keep the records of the same. |
Not applicable |
25 |
input tax credit (ITC) on import of goods |
Not available |
August-22 |
Remove this amount from 4A(1) |
Claim in GSTR-3B Table 4A(1) |
26 |
input tax credit (ITC) on domestic RCM supplies |
August-22 |
August-22 |
Claim in GSTR-3B Table 4A(3) |
Not applicable |
27 |
input tax credit (ITC) on domestic RCM supplies |
August-22 |
Not available |
Claim in GSTR-3B Table 4A(3) |
Not applicable |
28 |
input tax credit (ITC) on domestic RCM supplies |
August-2022 |
August-22 |
Claim in GSTR-3B Table 4A(3) |
Remove the declared charge which shall be auto-populated in the table 4A(3) and keep the records of the same. |
29 |
input tax credit (ITC) on domestic RCM supplies |
Not available |
August-22 |
No action in GSTR 3B. For confirmation review the receipt of the invoice and assess the same for booking and entry for reverse charge in accounts books |
Claim in GSTR-3B Table 4A(3). For the receipt of an invoice from a vendor, shall be paid and input tax credit (ITC) shall be claimed in GSTR-3B. If the declared invoice is not adequate or not related to the registered vendor then, an intimation is sent to the vendor for the correction of the transaction on the portal. |
30 |
input tax credit (ITC) on inward suppliers having a place of supply of another state than the other state of the registered person but is actually eligible for input tax credit (ITC). |
August-22 |
August-22 |
Auto populating in 4D(2) – Other Points i. e. Ineligible input tax credit (ITC) is limited due to PoS conditions |
Not applicable |
31 |
input tax credit (ITC) on inward supplies having a place of supply of another state than the other state of the registered person but is actually eligible for input tax credit (ITC). |
August-2022 |
August-22 |
1. Remove the declared amount from auto-populating in 4D(2). And seek rectification of the same and keep a track of the same from the vendor |
Claim in GSTR-3B Table 4A(5). For the rectification of the same by the vendor, consider availing in GSTR-3B in the month of revision by the vendor |
32 |
input tax credit (ITC) on inward supplies having a place of supply of another state than the other state of the registered person but is actually eligible input tax credit (ITC). |
August-22 |
August-22 |
1. Claim in GSTR-3B Table 4A(5) 2. Reverse in 4B(2) – momentary inverted (ITC) shall be CGST/SGST) |
1. Claim in GSTR-3B Table 4A(5) 2. Disclose in Table 4D(1). (Run rectification of accounts books to SGST/CGST avail input tax credit (ITC) in GSTR 3B during the rectification month) |
33 |
input tax credit (ITC) on inward supplies having an incorrect type of tax in comparison os accounts books. (IGST/SGST on the portal)- the vendor has incorrectly presented the amount and amends it in the afterward period |
August-22 |
August-22 |
1. Claim in GSTR-3B Table 4A(5) 2. Reverse in 4B(2) – momentary inverted input tax credit (ITC) shall be CGST/SGST) |
For IGST (amended tax) 1. Proclaim SGST/CGST in GSTR-3B table 4A (5) (Rectification by a vendor on the portal of IGST, therefore the exact is now compared to Books and input tax credit (ITC) can be claimed in form GSTR-3B in rectification month) for CGST / SGST. 1. amount in 4A(5) would be decreased due to invoice revision by vendor 2. Increase amount in 4A(5) to that extent 3. Unveil in Table 4D(1)* *disclosure in 4D(1) may not be in accordance with the circular. regardless, disclosure can be created for the intent of matching auto population with 4A(5) claim and 4D(1) disclosure |
34 |
Ineligible input tax credit (ITC) due to expiry of a time period for ex- limitation under section 16(6). Invoice dated F.Y. 20-21 and earlier to the same |
August-22 |
August-22 |
Auto-populating in 4D(2) – Other information. for ex- Ineligible input tax credit (ITC) restricted u/s 16(4). input tax credit (ITC) Entry can be expensed out in accounts books. |
Not applicable |
35 |
Ineligible input tax credit (ITC) due to expiry of time period for ex- limitation under section 16(6). Invoice dated F.Y. 20-21 and earlier to the same |
August-22 |
Not available |
input tax credit (ITC) cannot be inverted as an enduring inverted till the time the same is obtainable in GSTR-2B. The invoice-wise information is instructed for keeping a track of as “books only- ineligible input tax credit (ITC)” in books. |
input tax credit (ITC) can not be inverted as a permanent inverted till the time the exact is available in GSTR-2B. The invoice-wise parts are instructed to be kept a record as “books only- ineligible input tax credit (ITC)” in books. |
The last date to avail of the input tax credit on an invoice is up to the due date of filing of the form GSTR-3B for the month of September of next financial year or filing date of annual return, whichever is earlier, as per section 16(4) of the CGST Act. Input tax credit on such invoices could be availed in table 4 of GSTR-3B expressed below mentioned table.
Type of transactions |
Recorded in Books of A/Cs |
Available in GSTR 2B |
ITC availed in GSTR-3B of |
Treatment in GSTR-3B of August 2022 or succeeding periods |
ITC on inward supplies (invoice) |
Earlier periods |
Earlier periods |
Earlier periods |
Not applicable |
ITC on inward supplies (invoice) |
Earlier periods |
Earlier periods |
Not yet availed in GSTR-3B |
1. Claim ITC in GSTR-3B Table 4A(5) 2. Disclose in Table 4(D)(1). Input tax credit availed in august 2022/ any month later being entry-wise reconciliation is done for invoices of FY 21-22, can be claimed latest by Sep22 return |
ITC on inward supplies (invoice) |
Earlier periods |
Aug-22 |
Not yet availed in GSTR-3B |
Auto-populate in form GSTR-3B Table 4A(5) and claim an input tax credit in August GSTR-3B |
ITC on inward supplies (invoice) |
Earlier periods |
Not in GSTR-2B |
Not yet availed in GSTR-3B |
Not applicable as input tax credit can not be benefited till the identical is available in form GSTR-2B |
ITC on inward supplies (invoice) |
Aug-22 |
Earlier periods |
Not yet availed in GSTR-3B |
1. Claim ITC in GSTR-3B Table 4A(5) 2. May disclose in the table 4D(1)* *revelation in 4D(1) may not be in agreement with circular. Regardless, disclosure may be created for the definition of matching auto population with 4A(5) claim and 4D(1) disclosure |
ITC on inward supplies (invoice) |
Aug-22 |
Earlier periods |
Earlier periods |
Not applicable |
ITC on inward supplies (invoice) |
FY 21-22 (April 2021 to Dec 2021) |
Aug 2022 or subsequent period |
Earlier periods (ITC availed within the ad-hoc limit of 5% rule 36(4) |
1. Claim full amount in Table 4A(5) 2. Reverse in 4B(1) – enduring reversal full amount (This needs to be done as the input tax credit is already availed in an earlier period) |
ITC on inward supplies (invoice) |
FY 21-22 (April 2021 to Dec 2021) |
Not in GSTR-2B |
Earlier periods (ITC availed within the ad-hoc limit of 5% rule 36(4) |
Not applicable |
ITC on inward supplies (invoice) |
Jan 2022 till July 2022 |
Aug 2022 or subsequent period |
Not yet availed in GSTR-3B |
1. Claim full amount in Table 4A(5) |
ITC on inward supplies (invoice) |
Jan 2022 till July 2022 |
Not in GSTR-2B |
Not yet availed in GSTR-3B |
Income tax credit can not be benefited till the same is available in GSTR-2B. The invoice-wise details need to be kept a track of as “books only- ineligible ITC” in books/ workings |
ITC on inward supplies (invoice) |
Jan 2022 till March 2022 |
Not in GSTR-2B |
Not yet availed in GSTR-3B |
Input tax credit can not be availed till the time the same is obtainable in GSTR-2B. But the time limit for availing is Sept 2022 and if the invoice is not available in GSTR 2B till Sept 2022, then expense out in books of accounts also |
Reversal of the input tax credit on inward supplies (credit notes) |
Earlier periods |
Earlier periods |
Earlier periods |
Not applicable |
Reversal of the input tax credit on inward supplies (credit notes) |
Earlier periods |
Prior-periods |
ITC not yet reversed in GSTR-3B |
Reverse in the table 4A(5) – net off from all additional input tax credit |
Reversal of the input tax credit on inward supplies (credit notes) |
Earlier periods |
August -22 |
ITC not yet reversed in GSTR-3B |
CN would auto-populate in 4B(2). Regardless, it is not a reversal under rules 38,42,43, or section 17(5), and neither is a momentary reversal. Ideally to regard as net off in table 4A(5). Terminate amount auto-populating in Table 4B(2) |
Reversal of the input tax credit on inward supplies (credit notes) |
Earlier periods |
August -22 |
Earlier periods |
Lower from payment auto-populated as a reversal in the table 4B(2) – momentary reversal, since already inverted in earlier period GSTR-3B returns. |
Reversal of the input tax credit on inward supplies (credit notes) |
August -22 |
Earlier periods |
ITC not yet reversed in GSTR-3B |
Reverse in the table 4A(5) – net off from all other input tax credit |
Reversal of the input tax credit on inward supplies (credit notes) |
August -22 |
Earlier periods |
Earlier periods |
Not applicable |
Stock received in Aug-22 for invoice dated in previous months |
August-22 |
Earlier periods |
Not yet availed in GSTR-3B |
1. Claim ITC in GSTR-3B Table 4A(5) 2. May disclose in Table 4D(1)* *disclosure in 4D(1) may not be in agreement with the circular. however, disclosure may be created for the intention of matching auto population with 4A(5) claim and 4D(1) disclosure |
Reclaim of ITC after payment, which was earlier reversed due to non-payment to the vendor within 180 days, rule 37 |
Earlier periods |
Earlier periods |
Input tax credit was prior reversed due to non-payment within 180 days |
1.Claim ITC in Table 4A(5) 2.Disclose in Table 4D(1) |
While reconciling the accounts books with invoices emerging in GSTR-2B, you may see some distinctions in the amount of input tax credit declared by the supplier against an invoice. The manner of claiming input tax credit on these types of invoices in GSTR-3B of August 2022 and the following months is briefly mentioned below in the table manner.
Table 3: Disclosures for amount differences
The difference of amount in GSTR-2B and books |
Revoreded in Books of accounts |
Present in GSTR-2B |
Treatment in GSTR 3B of Aug 2022 (Availment or reversal) |
GSTR 3B of Subsequent period (Availment or reversal) |
books of account > 2B Where the vendor has disclosed incorrect amount |
Aug-22 Rs. 90,000 |
Aug-22 Rs. 75,000 |
Alternative1: Not to avail as the amount is mismatched and follow-up with the vendor for providing appropriate invoice or modification in Form GSTR-2B. Therefore, in GSTR-3B of Aug 2022: a. Claim in GSTR-3B Table 4A(5)- Rs.75,000 b. Reverse in 4B(2)–provisionall reversal, Rs.75,000 Option 2: input tax credit to be benefited to the extent the amount is matched to GSTR 2B. Therefore, GSTR 3B of Aug 2022: Table 4A(5): Rs.75,000 |
Corresponding to Option 1: Time in which books and portal are matched (vendor rectification in the portal to Rs.90,000). Therefore in GSTR-3B: a. Assertion in GSTR-3B in the table 4A(5), Rs.90,000 (Rs 15,000 would be auto-populated) b. Disclose in Table 4D(1). Rs.75 Corresponding to Option 2: ITC to be availed to the extent the amount is matched to GSTR 2B. Therefore GSTR 3B : Table 4A(5): Rs.15,000(Auto-populated) |
books of account > 2B Where vendor has disclosed incorrect amount |
Aug-22 Rs. 90,000 |
Sept-22 Rs. 75,000 |
As amount populated in GSTR-2B in Aug-22 as no action |
Follow treatment as mentioned in SI no. 1 above |
books of account > 2B Where accounting in books is improper |
Aug-22 Rs. 90,000 |
Aug-22 Rs. 75,000 |
Option 1: unavailable as the amount got mismatched and follow-up with the vendor for delivering the proper invoice or modification in GSTR 2B. Therefore, in GSTR 3B of Aug 2022: a. Claim in GSTR-3B Table 4A(5), Rs.75,000 b. Reverse in 4B(2) – momentary reversal, Rs.75,000 Option 2: input tax credit is to be availed to the extent the amount is matched to GSTR-2B. Therefore GSTR-3B of Aug 2022: table 4A(5): Rs.75,000 |
Corresponding to Option 1: Time in which books of accounts and portal are matched (extent of books of accounts rectification to Rs.75,000). Therefore, in GSTR 3B: a. Claim in GSTR-3B Table 4A(5), Rs.75,000 b. Disclose in Table 4D(1). Rs.75,000 Corresponding to Option 2: ITC availed the previous month to the extent the amount is matched to GSTR 2B, Therefore no action in GSTR 3B but rectification in books of account, Rs. 15,000 |
books of account > 2B Where accounting in books is improper |
Aug-22 Rs. 90,000 |
Sept-22 Rs. 75,000 |
No amount populated in GSTR-2B and No action in August-22 |
Follow treatment as mentioned in SI no. 3 above |
books of account > 2B |
Sept-22 Rs. 90,000 |
Aug-22 Rs. 75,000 |
1. Claim in GSTR-3B Table 4A(5) 2. Reverse in 4B(2) – momentary reversal |
Follow the treatment as mentioned in SI no. 1 or 3 based on the scenario |
books of account < 2B Where vendor has disclosed incorrect amount |
Aug-22 Rs. 75,000 |
Aug-22 Rs. 90,000 |
Option 1: unavailable as the amount got mismatched and follow-up with vendor for delivering the proper invoice or modification in GSTR 2B. Therefore in GSTR 3B of Aug 2022: a. Claim in GSTR-3B Table 4A(5), Rs.90,000 b. Reverse in 4B(2) – momentary reversal Rs.90,000 Option 2: input tax credit is to be benefited to the extent the amount is matched to GSTR 2B. Therefore, GSTR 3B of Aug 2022: a. Table 4A(5): Rs.90,000 b. Reverse in 4B(2) – momentary reversal, Rs.15,000 |
Corresponding to Option 1: Time in which books and portal are matched (vendor rectification in portal to Rs.75,000). Therefore, in GSTR-3B : a. Claim in GSTR-3B Table 4A(5), Rs.75,000 b. Disclose in Table 4D(1). Rs.75,000 Corresponding to Option 2: input tax credit to be availed to the extent the amount is matched to GSTR 2B. Therefore in GSTR 3B : a. Table 4A(5): Rs.-15,000(Auto-populate), remove negative amount (Rs. -15,000) manually |
books of account < 2B Where vendor has disclosed incorrect amount |
Aug-22 Rs. 75,000 |
Sept-22 Rs. 90,000 |
No amount populated in GSTR-2B as No activity in Aug-22 |
Follow treatment as mentioned in SI no. 6 above |
books of account < 2B Where accounting in books is improper |
Aug-22 Rs. 75,000 |
Aug-22 Rs. 90,000 |
Option 1: unavailable as the amount got mismatched and follow-up with vendor for delivering the proper invoice or modification in GSTR 2B. Therefore in GSTR 3B of Aug 2022: a. Claim in GSTR-3B Table 4A(5), Rs.90,000b. Reverse in 4B(2) – momentary reversal, Rs.90,000Option 2: ITC to be availed to the extent the amount is matched to GSTR 2B.Therefore GSTR 3B of Aug 2022: a. Table 4A(5): Rs.90,000b. Reverse in 4B(2) – momentary reversal Rs.15,000 |
Corresponding to Option 1: Time in which books and portal are matched (Books of accounts rectification to Rs.90K). Therefore, in Form GSTR-3B : a. Claim in GSTR-3B Table 4A(5), Rs.90,000 b. Disclose in Table 4D (1). Rs.90K Corresponding to Option 2: Input tax credit is to avail to the extent of the amount matched in Form GSTR-2B. Therefore, GSTR 3B; a. Claim in GSTR-3B table 4A(5), Rs.15,000 b. Disclose in table 4D(1). Rs.15,000 |
books of account < 2B Where accounting in books is improper |
Aug-22 Rs. 75,000 |
Sept-22 Rs. 90,000 |
No action in Aug-22 as no amount settled in GSTR-2B |
Follow treatment as mentioned in SI no. 8 above |
books of account < 2B |
Sept-22 Rs. 75,000 |
Aug-22 Rs. 90,000 |
1. Declare in GSTR-3B Table 4A(5) Rs. 90,000 2. Reverse in 4B(2) – provisionalreversal Rs. 90K |
Follow the treatment as mentioned in SI no. 6 or 8 based on the scenario |
The procedures of the disclosure have been totally modified, Taxpayers are to be updated with all types of eligible and ineligible credits impacting their business. small-scale and medium-sized initiatives that may not presently have strong automated internal systems for accounting and reconciliation can go through some issues of problematic disclosures in the form of GSTR-3B, which may raise interventions for the department.
The information provided above is rigidly personal and not to concern as a legal opinion. In case of any doubts or queries, you can email us at help@myitronline.com
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Linking Your Aadhaar with PAN for filing ITR and E-verification
Presumptive Taxation Scheme of Section 44AD, Section 44ADA, Section 44AE, for Business and Professions
Revised IT Return under Section 139(5) of Income Tax Act
Big relief for these small taxpayers holders provided 40th GST council meeting
Big relief for these GST small taxpayers holders provided Facility of filing Nil Form GSTR-3B through SMS
Cost Inflation Index (CII) | Meaning & Index from 2001-02 to 2020-21
New Annual Information System (AIS) to Replace Annual Tax Summary Statement Form 26AS
Comparison Of Old And New Tax Regime Rates For AY 2021-22
Filing of Income Tax Return A.Y. 2020-21,due date is extended till 30th November, 2020
Provisions of Online Correction in Form 26QB (TDS ON Sale of Property)
Weekly Update:- INCOME TAX, GST, Corporate & Allied Laws
Extended Last Date for Income Tax Returns for Financial Year 2018-19 ( assessment year 2019-20) from 31st March, 2020 to 30th June, 2020.
Taxability of Gifts Received by Individual or HUF Member u/s 56(2)x
Live interactive online classes (ALL INDIA BASIS) Concessional Price for 10+1 & 10+2 commerce all subject
Download your Aadhaar Card using your Mobile Number
Section 44AB New Amendments on 2020 and Their Impacts in Businesses
Income from House Property and Taxes
Institute of Chartered Accountant in India (ICAI) has launched Bulk UDIN for Certificates
HAVE YOU FILED YOUR RETURN FOR A.Y. 2019-20? IF NOT , 30 JUNE 2020* COULD BE YOUR LAST CHANCE.
Sanjeev Varshney Classes
Presents Live Virtual Classes on ALL-INDIA BASIS at a concessional price for CA & CMA Foundation commencing soon.
Filing Income Tax Return (ITR) for NRI
Filing Of Income Tax Return A.Y. 2019-20,Due Date Is Extended againTill 31th July, 2020
PAN-Aadhaar link date again extended Till 31th March, 2021
ITR-2 available on its e-Filing portal
relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020
CBIC to provide big relief for these GST Small Taxpayers Holders by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.
Sanjeev Varshney Classes Presents Live Virtual Classes On ALL-INDIA BASIS At A Concessional Price For CA and CMA Foundation New batches starting now!
Deduction 80EEA in respect of Interest paid on Loan Taken for Acquisition of Residential House Property (Affordable Housing)
GST DATES EXTENDED AGAIN TILL 30.09.2020 FOR ALL ASSESSEE Notification no 57/2020 30.06.2020
FILING FOR INCOME TAX RETURN A.Y 2020-21
Section 194 N Amendment in Finance Bill 2020 – TDS Rate Goes Up on Cash Withdrawal
Big Relief For These GST Small Taxpayers Holders Provided Facility OfFiling NIL Form GSTR-1 through SMS on GST Portal.
BIG BREAKING IMP ANNOUNCEMENT CA MAY 2020 EXAMS
ITR-2 Excel utility Available On Its E-Filing Portal
Relief to small and middle class taxpayers, the date for payment of self-assessment tax u/s 234A of INR 1 Lakh Tax Liability Limit
CBDT Notification No. 35/2020 Revised Income Tax Due Dates, Interest on Delayed Payment
Who all are required to file return of income under newly inserted 7th Proviso to Section 139(1) of IT Act, 1961.
CBDT issues press release on 'Verification of applicability u/s 194N' functionality in e-filing portal.
One-time relaxation for Verification of tax-returns for the Assessment years 2015-16 to 2019-20 which are pending due to non-filing of ITRV form and processing of such returns
My friend Sanjeev Varshney starting some new batches for CA & CMA Foundation students in this month of July 2020.
e-Filing Helpdesk is temporarily impacted due to imposition of lockdown from 14-22 July
Important Announcement November 2020 CA Examinations
Exclusive COVID-19 UNLOCKDOWN Offer, Join Online Self-Learning GST Course at up to 90% discount
Filing Of Income Tax Return A.Y. 2019-20,Due Date is Extended AgainTill 30 September, 2020
ITR-3 Excel Utility Available On Its E-Filing Portal
GST Alert: July 2017 data removed from GST Portal:
Amendments in the E assessment Scheme 2019 published vide notification of the Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes
Best Judgment Assessment Income Tax Notice U/s 144
Make your instant e-PAN card absolutely free within ONLY 3 minutes
All Statutory Compliance Calendar for September 2020
GSTR – 2B: Auto Drafted ITC Statement Launched from July 2020
5-year wait for gratuity is over, big gift to employed people.
Income tax Return Filing Due Dates FY 2019-20, AY 2020-21
A big Relief given by Ministry of Corporate Affairs extending the timeline for holding Annual General Meeting till December 31st from September 30th.
Prime Minister Narendra Modi gave three gifts to the taxpayers -Faceless Assessment, Faceless Appeal and Taxpayers Charter.
Only 3 days left, the central government has implemented the 'One Nation-One Ration Card' scheme,
Final Opportunity ITR E-Verification Even after filing ITR, it is very important to do this job
The Ministry of Corporate Affairs has extended the duration of several schemes till 31.12.2020
CBDT has notified Belated and Revised Income Tax return deadlines extended again 30 September, 2020 to 30 November, 2020.
The Income Tax Department has issued new guidelines regarding tax collection at source TCS.
Statutory Compliance Calendar for October 2020
Recommendations of the 42nd GST Council Meeting held today
DONATIONS MADE THE PM CARES TO FUND SHALL BE ELIGIBLE FOR THE FOLLOWING BENEFITS
7th pay commission news for LTA
ICAI November CA Inter & Final Exams postponed
Difference of Assessment year and Financial year
Good news for EPF account holders PF related complaint will be cleared on WhatsApp message,
Special Window to States for meeting the GST Compensation Cess shortfall
Extension of due date of furnishing of Income Tax Returns and Audit Reports
Extension of due dates for Annual Return and Reconciliation Statement for 2018-19
After the death of the taxpayer, his heir has to submit his income tax return.
Buy 100% Pure Silver/Gold Coins & Notes
Class 2 DSC’s issuance will be withdrawn/ stop from 1st January 2021
Statutory Compliance Calendar for December 2020
All Valid GST registration will be physical verification
Income tax return 2019-20 filing: last date, list of documents required for filing income tax return
CBDT Has Notified Income Tax Return Deadlines Extended Again
New Income Tax Return filing due dates for FY 2019-20, AY 2020-2021
Union Budget 2021-22
Budget 2021-2022
Now get PAN card made at home
e-Campaign - High Value Transactions for AY 2019-20
Public Provident Fund i.e. PPF is considered a better option for long term investment
Govt extends timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic.
Old And New Tax Regime Rates For AY 2022-23
Income Tax Return Deadlines:
Extension of time limits of certain compliance to provide relief to taxpayers
Launch of new e-filing Portal of the Income Tax Department
Recommendations of 43rd GST Council meeting
Statutory Compliance month for June 2021
New, taxpayer friendly e-filing portal of IT Department to be launched on 7th June, 2021
Issues on New Income tax e-filing 2.0 Portal
Finance ministry to hold meeting on 22nd June 2021 with Infosys on issues in the new income tax Portal
Cost inflation index for Financial Year 2021-22
100% growth in Net Direct Tax collections for the Financial Year 2021-22
Extension of Timelines
Economic Relief Measures announced for various sectors Total: Rs 6,28,993 crore
Relaxation in electronic filing of forms 15CA & 15CB
Finance Ministry meeting with infosys on glitches in e-filing portal of income tax department - resolved till 15 september 2021
CBDT Has Notified Income Tax Return Deadlines Extended Again
Ram Nath Kovind (President of India) Speaking
Union Budget 2022-23 INCOME TAX UPDATES
filing updated income tax returns proposed in Budget 2022
Crypto Taxation Guide Budget 2022
last date of filing ITR| Last date| Details on new forms and complete checklist
Free Company Search Company Name Check, MCA Search - Myitronline
Income Tax Rules Change- Income Tax has made 3 major changes, you must know…
New record for Income Tax Department as over 5.83 crore lakh IT Retuns filed on till 31st July, 2022.
What is ITR? Which ITR should you File? Types of ITR, How to file ITR? Income Tax Returns e-filing – ITR forms for FY 2021-22, AY 2022-23
compliance calendar for september 2022
GST slab rates in India
All you need to know about the salary slip
Is pension Taxable?
What is a GST audit?
form gstr 3b filing
compliance-calendar-october-2022
Tax Compliance and Statutory due dates for November 2022
statutory due-date calendar December 2022
Top 5 Mistakes You Must Avoid In Your Tax Planning
6 Robust Reasons to not to miss NPS in your tax planning
18% GST on Term & Health Insurance is too heightened! Know more
File Belated income tax return By the 31st of December 2022 Considering the notice & Penalties
Statutory & Compliance Calendar For January 2023
Guide to Standard on Auditing (SA) 230, Audit Documentation
The online gaming industry attracts 28% GST on gross gaming revenue, not on the entry amount
Union Budget 2023
Budget 2023 Updates: A glimpse of New income tax slabs 2023-24 - Myitronline
Budget 2023 - Impact On Market Infra, Tech & Others - Myitronline
Things To Do After Filing Your Income Tax Returns
Budget 2023 - 5 Major Announcements Proposed In Union Budget 2023
Union Budget 2023: PM Narendra Modi Praised The budget Of “Amrit Kaal
Filing ITR - Things to Keep In Mind While Filing ITR
Common ITR Form - 5 Ways In Which Common ITR Will Benefit Taxpayers
5 Things Taxpayers must follow while filing ITR
Everything About Property Tax You Must Know
CBDT : “Sign of economic Revival” Net direct tax collection in FY 2022-23 increase 23%
Analysis of New Disclosures in GSTR-3B
income tax returns but have not yet received the refund
Check your Income Tax Refund
5 Best Tax-Saving Investments That Everyone Must Know
The Audit & Its Importance
Income Tax Through An e-pay Tax Option
Penalties & Late fees After missing the audit report
Pay slip
Solvency Certificate
All About One Person Company
Section 24 of the Income Tax Act- Things You Must Know
TDS Rate Chart
CBDT notifies ITR Forms For AY 2023-24) In Advance
How can NRIs prevent double taxation under DTAA?
Statutory & Compliance Calender For March 2023
CBDT To Take Legal Action Against 33000 ITR Mismatched Cases
Tax Saving Tips in 2023
AIS app for Taxpayers
PAN Aadhar linking Deadline Extended
Statutory & Compliance Calender For April 2023
Analysis 8 GST Notifications Issued 31st march 2023