Taxpayers may report their opening balance until 30th November 2023. After 30th November 2023, the option to report the opening balance will be removed, and it will be assumed that the taxpayer has no ITC Reversal Balance to report.
The Electronic Credit Reversal and Re-claimed Statement will show the Input Tax Credit (ITC) claimed, reversed, and re-claimed during a specific return period.
This information will be presented from Table 4A(5), Table 4B(2), and Table 4D(1) of form GSTR-3B.
The Closing Balance section of the statement will indicate the remaining amount of ITC Reversal balance that can be claimed again in form GSTR-3B.