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Rule 36(4) ITC Restrictions to 10% Cap - due to COVID-19 issue - & Lockdown all over India , how can we take ITC Credit - Need guidance please. - Goods and Services Tax - GSTExtract Dear Sir Good Morning As per the present situation of Lockdown all over India and as per the Press Release as per Finance Minister's announcement , time limit / due date / for all the GST Returns are extended up to June 2020. In these circumstances for the month of March 2020 , purchases, the supplier / service providers /vendors will avail the due date extension and hence they may file their GSTR-1 returns for March 20 belatedly , not on or before 11.04.2020 (falls in the Lockdonw period) . Hence for our ITC Credit by 2A GL reconcilation will affect huge quantum of Short fall of ITC credit . How can we handle this ( Rule 36(4) cap 10%) for Utilization of the ITC . Is there any relaxation in Rule 36(4) . Request guidance on this for March 2020- ITC credit for GSTR-3B . thanks/regards v Swaminathan
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