Reclaiming lost ITC | Know your rights | GST with Saradha

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Here's a vital update 💯

Even if your ITC appears in GSTR 2B, unless your supplier pays the tax, ITC is ineligible under Section 16(2)(c) 🤷🏻‍♀️

Welcome to GST with Saradha in Shorts!

Rule 37A was introduced in December 2022, shaping ITC rules for FY 2022-23.

If your supplier's tax isn't paid by 30th Sep 2023, your availed ITC must reverse by 30th Nov 2023. Reclaim when the supplier settles, no time limit specified.

💭 But, is this aligned with the Act?
💭 How does it impact genuine taxpayers?
💭 What relief does the High Court offer?

I'll dissected this thoroughly in my YouTube video!
Find detailed insights in my bio link. Don't miss out!

Stay informed, stay compliant!

#GSTwithSaradha 😊

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Supreme Court judgement nala itc reclaim panalama mam...

arunvishal
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Mam I filed gst March 21 gst after nov 21 now gst dept demand entire ITC ineligible please guide

dharani