1. Electronic Credit Reversal & Reclaimed Ledger:
This ledger tracks the lifecycle of temporarily reversed Input Tax Credit (ITC). Review your closing balance before filing and apply the corresponding treatment below:
Case A: Positive Balance (Eligible Reclaim Available)
Action Required: Report the eligible reclaimable credit.
GSTR-3B Disclosure:
1. Avail the gross ITC amount in Table 4A(5) (All Other ITC).
2. Account for any temporary or permanent exclusions by reversing the relevant amount under Table 4B(1) (As per rules 38, 42 & 43 and section 17(5)) or Table 4B(2) (Others).
3. Separately disclose the specific reclaimed portion in Table 4D(1) (ITC reclaimed which was reversed in Table 4B(2) in earlier tax period).
Case B: Negative Balance (Excess Reclaim Incurred)
Action Required: Correct the previous excess credit over-availment.
GSTR-3B Disclosure:
1. Claim the standard eligible current-period ITC in Table 4A(5).
2. Mandatorily report a reversal equivalent to the deficit amount in Table 4B(2) to balance the ledger and lift the portal filing block.
2. RCM Liability / ITC Statement
This statement matches your paid Reverse Charge Mechanism (RCM) liabilities against the RCM input credit claimed. Treat the statement balances as follows:
Case A: Positive Balance (Excess RCM Paid in Prior Periods)
a) Action Required: Utilize the historical overpayment without duplicating current liabilities.
b) GSTR-3B Disclosure:
1. Avail the corresponding RCM credit in Table 4A(2) (Import of services) or Table 4A(3) (Inward supplies liable to reverse charge), depending on the nature of the transaction.
2. Do not declare an equivalent liability in Table 3.1(d) for this specific transaction, as the corresponding tax has already been remitted in previous periods.
Case B: Negative Balance (Excess RCM ITC Claimed Prior)
a) Action Required: Net out or adjust the previous overallocation of RCM credit.
b) GSTR-3B Disclosure:
Report a negative figure (“-ve”) or reduce your current credit claim in Table 4A(2) or Table 4A(3) by the deficit amount to reconcile the statement.