{"id":9566,"date":"2023-11-14T13:36:24","date_gmt":"2023-11-14T13:36:24","guid":{"rendered":"https:\/\/www.klickongstworld.com\/blog\/?p=9566"},"modified":"2023-11-14T13:58:06","modified_gmt":"2023-11-14T13:58:06","slug":"advisory-itc-reversal-on-account-of-rule-37a","status":"publish","type":"post","link":"https:\/\/www.klickongstworld.com\/blog\/advisory-itc-reversal-on-account-of-rule-37a\/","title":{"rendered":"Advisory ITC Reversal on Account of Rule 37(A)"},"content":{"rendered":"<p align=\"justify\"><strong>GSTN has issued an advisory dated 14.11.2023 on ITC Reversal on Account of Rule 37(A).<\/strong><\/p>\n<p align=\"justify\">Vide Rule 37A of CGST Rules, 2017 the  taxpayers have to reverse the Input Tax Credit (ITC) availed on such invoice or  debit note, the details of which have been furnished by their supplier in their  GSTR-1\/IFF but the return in FORM GSTR-3B for the said period has not been  furnished by their supplier till the 30th day of September following the end of  financial year in which the Input Tax Credit in respect of such invoice or  debit note had been availed.\n  <\/p>\n<p align=\"justify\">The said amount of ITC is required to be  reversed by such taxpayers, while furnishing a return in FORM GSTR-3B on or  before the 30th day of November following the end of such financial year, as  part of this legal obligation.\n  <\/p>\n<p align=\"justify\">To facilitate the taxpayers, such amount  of ITC required to be reversed on account of Rule 37A of CGST Rules for the  financial year 2022-23 has been computed from system and has been communicated  to the concerned recipient. The email communication to this effect has been  sent on the registered email id of the taxpayer.\n  <\/p>\n<p align=\"justify\">The taxpayers are advised to take note of  it and to ensure that such ITC, if availed by them, is reversed as per rule 37A  of CGST Rules before 30th of November, 2023 in Table 4(B)(2) of GSTR-3B while  filing the concerned GSTR-3B.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2023\/11\/1411.png<\/p>\n","protected":false},"author":1,"featured_media":9567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9566"}],"collection":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/comments?post=9566"}],"version-history":[{"count":2,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9566\/revisions"}],"predecessor-version":[{"id":9572,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/9566\/revisions\/9572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media\/9567"}],"wp:attachment":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media?parent=9566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/categories?post=9566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/tags?post=9566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}