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Home > News > GSTLast Updated: Nov 15th 2023

ITC Reversal Due to Rule 37(A)

Taxpayers must reverse the Input Tax Credit (ITC) claimed on such invoice or debit note, according to Rule 37A of the CGST Rules, 2017.

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  1. According to Rule 37A of the CGST Rules, taxpayers must reverse the Input Tax Credit (ITC) claimed. The details of which were furnished by their supplier in their GSTR-1/IFF, but the return in FORM GSTR-3B for the said period was not furnished by their supplier until the 30th day of September following the end of the fiscal year in which the Input Tax Credit in respect of such invoice or debit note was claimed.
  2. As part of this legal requirement, such taxpayers must reverse the aforementioned amount of ITC by filing a return in FORM GSTR-3B on or before the 30th day of November after the end of such financial year.
  3. To assist taxpayers, the amount of ITC required to be reversed due to Rule 37A of the CGST Rules for the financial year 2022-23 has been estimated from the system and notified to the relevant recipient. The email communication to this effect was sent to the taxpayer's registered email.
  4. Taxpayers are advised to take note of this and ensure that any ITC obtained by them is reversed as per rule 37A of the CGST Rules by the 30th of November, 2023 in Table 4(B)(2) of GSTR-3B while submitting the relevant GSTR-3B.

Source(s):, Team

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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.