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Question ID : 44503

GST Reconciliation

In terms of Circular No. 170/02/2022-GST dtd 06-07-2022, various restriction was imposed on ITC credit viz. non credit of goods not received, payment not made within 180 days of purchases etc. How to reconcile the same on yearly basis with GST portal data as the same doesn't provide bifurcation on each item

Posted by SURAJ KUMAR CHOUDHARY on Jun 16, 2023

Filed Under GST

Answer ID : 85223

you need to keep records of reversal made during each return as it can be questioned by assessing officer in assessment. on portal only 2 types of reversal are show - one which cant be reclaimed - InEligible (blocked credit) and Others which can be reclaimed later on

Posted by CA Shrawan Suthar on Nov 20, 2023