Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Home Circulars 2021 GST - States GST - States - 2021 This
← Previous Next →
  • Login

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser


Register for Demo / Trial


Annual Subscription Offer

With popular demand, we introduce:-
Special offer on GST Package for Professionals
i.e. CA/CWA/CS/Advocate/Others @ 2500/- +GST



 

Clarification relating to application of sub-rule (4) of rule 36 of the MGST Rules, 2017 for the months of February, 2020 to August, 2020 - GST - States - Trade Circular No. 02 T of 2021

Extract

..... in implementation of the MGST Act, 2017. Copy of the referred CBIC circular is attached herewith. This Trade Circular is clarificatory in nature. Difficulty if any, in the implementation of this Circular may be brought to the notice of the office of the Commissioner State Tax, Maharashtra. Yours faithfully, (Sanjeev Kumar) Commissioner of State Tax, Maharashtra State, Mumbai. Circular No. 142/12/2020- GST F. No. CBIC/20/06/14/2020-GST Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs GST Policy Wing New Delhi, the 9th October, 2020 To The Pr. Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All), The Principal Director Generals / Direc .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Clarification relating to application of sub-rule (4) of rule 36 of the MGST Rules, 2017 for the months of February, 2020 to August, 2020 - GST - States

X X   X X   Extracts   X X   X X

..... ons issued earlier vide Circular No. 123/42/2019 - GST dated 11.11.2019 shall still remain applicable, except for the cumulative application as prescribed in proviso to sub-rule (4) of rule 36 of the CGST Rules. Accordingly, all the taxpayers are advised to ascertain the details of invoices uploaded by their suppliers under sub-section (1) of section 37 of the CGST Act for the periods of February, March, April, May, June, July and August, 2020, till the due date of furnishing of the statement in FORM GSTR-1 for the month of September, 2020 as reflected in GSTR-2As. 3.2 Taxpayers shall reconcile the ITC availed in their FORM GSTR-3Bs for the period February, 2020 to August, 2020 with the details of invoices uploaded by their suppliers of the .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Clarification relating to application of sub-rule (4) of rule 36 of the MGST Rules, 2017 for the months of February, 2020 to August, 2020 - GST - States

X X   X X   Extracts   X X   X X

..... ained by way of illustration, in a tabulated form, below. Table I Tax period Eligible ITC as per the provisions of Chapter V of the CGST Act and the rules made thereunder, except rule 36(4) ITC availed by the taxpayer (recipient) in GSTR-3B of the respective months Invoices on which ITC is eligible and uploaded by the suppliers till due date of FORM GSTR-1 for the tax period of September, 2020 Effect of cumulative application of rule 36(4) on availability of ITC. Feb, 2020 300 300 270 Maximum eligible ITC in terms of rule 36 (4) is 2450 + [10% of 2450] =2695. Taxpayer had availed ITC of 2750. Therefore, ITC of 55 [2750-2695] would be required to be reversed as mentioned in para 3.4. above. March, 2020 400 400 380 April, 2020 500 500 450 May .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Clarification relating to application of sub-rule (4) of rule 36 of the MGST Rules, 2017 for the months of February, 2020 to August, 2020 - GST - States

X X   X X   Extracts   X X   X X

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||