Reclaimable GST Reversed ITC latest change in GSTR 3B

Notification No. 14/2022 – Central Tax dated 05th July, 2022
Circular 170/02/2022-GST, Dated 6th July,2022

As per the mentioned notification the reclaimable ITC earlier reversed in Table4(B)(2) may be subsequently claimed in Table 4(A)5 on fulfilment of necessary conditions. Such reclaimed ITC in Table 4(A)5 also needs to be explicitly reported in Table 4D(1)

The Cumulative ITC Reversed not reclaimed till now in any GSTR 3B returns has to be mentioned as Opening Balance for “Electronic Credit Reversal and Re-claimed Statement” under the respective Tax headings.

The Taxpayers are only permitted to manually enter the opening balance of ITC Reversal pending to be yet reclaimed
Proper working must be maintained for the amount reported as opening balance.

30TH November 2023 is the last date for reporting the opening balance of reversed ITC not reclaimed till now.
If any mistakes or inaccuracies occur while reporting the opening Cumulative ITC Reversal balance then opportunity of amendment shall be provided upto maximum of 3 times.
The last date to amend the opening balance entered in Electronic Credit and Re-claimed Statement is 31st December 2023.

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