Demystifying ITC Reversal: Top Scenarios and Best Practices

Live Webinar

Businesses who have been reporting in GSTR 3B amount of eligible ITC reversed now have the window to report the cumulative figures. Submit the opening balance of reversal amount latest by 30th Nov 2023 (and amendment allowed till 31st Dec 2023) and get your Reversal and Reclaim Statement updated.
ITC Reversal and Reclaim Statement is going to affect your ITC claim and tax liability in a big way. Join our Live Webinar to know how you can benefit from the same.

28th November, 2023 at 11 AM IST

Latest Webinars

An In-Depth Discussion on GSTR3B ITC Reporting and Practical Scenarios
Reversal and Reclaim ITC Statement
ITC Reversal as per Rule 37A
Impact on Businesses
Best Practices to Avert ITC Losses
Technology-Based Solution to Correct Reporting of ITC in GSTR 3B: IRIS GST Software
Latest Developments to Watch Out For
Recommendations and To-Dos while Preparing ITC Data for GSTR 3B

We’ll give you an opportunity to address any questions you may have during the live webinar.

Latest Webinars

The GSTN implemented a new statement, the ITC Reversed and Reclaimed Statement, in the GST Common Portal, effective from the return period August 2023, where ITC Reversal under Table 4B (2) and ITC Reclaimed under in Table 4(D)(1) shall be reflected.

ITC reversal is needed in certain scenarios as per the rules set by GST

Recipient’s Payment Delay (CGST Rule 37)
Supplier’s Tax Payment (CGST Rule 37A)
Exempt Supplies or Personal Use (CGST Rules 42 & 43)
Special Circumstances (CGST Rule 44)

As the due date for GSTR-3B for October approaches, you need to pay close attention to the impact of this update to ensure you avoid any ITC loss.

To help you navigate these GST updates, we are hosting a LIVE WEBINAR on “Demystifying ITC Reversal: Top Scenarios and Best Practices” on 28th November 2023.

To join the experts in the field

Latest Webinars

Ashwini Gorhe

Ashwini is a Product Manager at IRIS Business Services Ltd with 12 years of experience. She is a Chartered Accountant by profession.

As a Product Manager, Ashwini plays a pivotal role in shaping the company’s GST product roadmap. Her responsibilities include in-depth research on market trends, understanding the complexities of Goods and Services Tax (GST) regulations, and translating this knowledge into product-level business strategies and validation rules.

Apart from her strategic contributions, Ashwini is actively involved in providing hands-on assistance to clients, offering solutions to critical GST-related queries. Ashwini frequently conducts product demonstrations, guiding taxpayers on leveraging the IRIS GST offerings to enhance their productivity and ensuring GST compliance with ease.

Recognizing the importance of educating taxpayers on the ever-evolving GST landscape, Ashwini takes the initiative to run various webinars focused on topics like e-invoicing and updates on GST.

Shilpa Dhobale

Shilpa Dhobale is a Management Accountant and holds a Master’s degree from Mumbai University with specialization in accounts. Shilpa spearheads the GST functional team at IRIS, bringing her deep domain experience to product design and development. Shilpa started her career with IRIS in 2005 and has played a significant role in setting up the Consulting Practice in IRIS. Over her 13+ years in the area of information standardization, she has worked with several regulators to formulate and roll out their digital reporting strategies.