The GSTN has introduced a new functionality –
‘Electronic Credit Reversal and Re-claimed Statement’.
This functionality has been introduced to validate the taxpayer’s ITC reclaimed amount in Table 4A(5) & 4D(1) of Form GSTR-3B.
In this functionality, the taxpayer needs to Report the ITC Reversal Opening Balance as per the advisory issued in this regard, which is explained as follows:
Until 30th November 2023: Taxpayers can report their unclaimed ITC Reversal Opening Balance. This facility is strictly for reporting unclaimed and legally reclaimable balances only.
Until 31st December 2023: Taxpayers have the right to amend their reported opening balance. Note, only three amendments are allowed for each taxpayer.
Post 31st December 2023: The reported opening balance is frozen, and no further changes can be made. These reported values are forwarded to the Jurisdictional Tax Officer for review
