The Rajasthan GST department recently published a circular stating that businesses must submit the following information in their GSTR 3B returns:
- Reversals under CGST Rules 2017 Rules 42 and 43 must be declared in GSTR 3B Table 4(B)(1). A business enterprise is required to reverse Input Tax Credit on input goods or services in the same manner provided in Rule 42. The reversal of the input tax credit for Capital Goods is dealt with under Rule 43. If a business entity sells both taxable and tax-free products or services, reversal is necessary under these laws.
- Reversal under Rule 37 of the CGST Rules 2017 must be stated in GSTR 3B Table 4(B)(2). If the business has not paid vendors within 180 days of the invoice date, reversal is necessary under this rule.
- Ineligible ITC must be declared in Table 4(D)(1) of GSTR 3B under Section 17(5) of the CGST Act 2017. The goods or services for which a business cannot claim input credit are listed in Section 17(5).
- The circular further states that if a business entity does not properly declare the reversal of input tax credit in GSTR 3B for FY 2021-22, it must do so in GSTR 9 for FY 2021-22 or GSTR 3B for FY 2022-23.
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