The Government of Tamil Nadu vide its circular dated 31st October 2020 has issued clarification relating to implementation of sub rule 4 of rule 36 of Tamil Nadu Goods and Service Tax Rules, 2017 relating to availiment of input tax credit (ITC) in respect of the invoices or debit notes, for which the details have not been uploaded by the taxpayers.
Accordingly, all the taxpayers are advised to ascertain the details of invoices uploaded by their suppliers under sub-section 1of section 37 of TNGST act for the period from February to 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-2A.
The 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 said months, till the due date of furnishing Form GSTR-1 for the month of September 2020. The cumulative amount of the ITC availed for the said months in Form GSTR-3B should not exceed 110% of the cumulative value of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under section 37(1) of the Act. Till the due date of furnishing of the statement in Form GSTR-1 for the month of September.
