EXCEL SHEET FOR CALCULATION OF ITC TO BE CLAIMED AS PER RULE 36(4) (i.e. GSTR-2A BASED ITC RULE)

Extract of Notification No. 49/2019 – CGST, Dated 9th Oct, 2019

Following new sub-rule (4) has been inserted in Rule 36 dealing with conditions for claiming input tax credit:

“(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.”

Hence the above inserted sub-rule provides that the availment of ITC with respect to the invoices or debit notes not uploaded by the supplier cannot exceed 20% of the eligible credit in respect of invoices or debit notes which have been uploaded. As an example, eligible ITC with respect to the invoices uploaded by the vendors is Rs. 100. Actual eligible ITC based on the invoices received is Rs. 150. The sub-rule provides that ITC of only Rs. 20 (20% of Rs. 100) can be claimed additionally. Hence total ITC which can be claimed would be Rs. 120 and not Rs. 150.

Sheet for Calculation of ITC as per this Rule

In order to claim the ITC as per this new rule 36(4) and for proper compliance as per act, we have prepared a excel sheet which is attached below :