GST Circular No 142/2020

CBIC has clarified that taxpayers shall reconcile that cumalative ITC availed in GSTR 3B for the period Feb 20 to Aug 20 shall not exceed 110% of ITC available in GSTR 2A till due date of GSTR 1 for the month of September. And any credit claimed in excess of 110% of credit available shall be reversed in Table 4(B) GSTR 3B of September 2020

Any excess credit if not reversed will be traeted as availment of ineligible credit