Critical Rule 36(4) covering all amendments and timelines! Helpful in GST Audits & Assessments

One pager on Journey of critical Rule 36(4) covering all amendments and timelines!!
May be helpful in ongoing GST Audits & Assessments.

RULE 36(4)-AVAILABILITY OF ITC ON THE BASIS OF GSTR-2A/2B [GSTR1 OF SUPPLIER] CHRONOLOGY OF AMENDMENTS

Introduced initially as following:

“36(4)- Input tax credit to be availed by a registered person in respect of invoices or debit notes, the details of which have not been uploaded by the suppliers under sub-section (1) of section 37, shall not exceed 20 per cent. of the eligible credit available in respect of invoices or debit notes the details of which have been uploaded by the suppliers under sub-section (1) of section 37.”

EXISTING RULE 36(4) AS ON DATE

36(4) No input tax credit shall be availed by a registered person in respect of invoices or debit notes the details of which are required to be furnished under subsection (1) of section 37 unless,

(a) the details of such invoices or debit notes have been furnished by the supplier in the statement of outward supplies in FORM GSTR-1 or using the invoice furnishing facility; and

(b) the details of input tax credit in respect of such invoices or debit notes have been communicated to the registered person in FORM GSTR-2B under sub-rule (7) of rule 60]

Document Date -09/03/2023