Categories: GST Return

GSTN has enabled Form DRC-01C on Portal.

Goods and Services Tax Network has enabled Form DRC-01C on Portal.

GSTN has enabled Form DRC-01C to deal with ITC mismatches between GSTR 3B & GSTR 2B, in accordance with rule 88D of the CGST Rules 2017 Through GSTN Notification No. 38/2023-dated on August 4, 2023.

CGST Relevant Rule: Central Goods and Services Tax (CGST) Rules, 2017 – Rule 88D

“Central Goods and Services Tax (CGST) Rules, 2017. Rules 88D. explain the manner of dealing with difference in ITC available in auto-generated statement containing the details of ITC & that availed in GST Return.”

This GSTN system can differentiate Input Tax Credit available as per GSTR-2B/2BQ with Input Tax Credit claimed as per GSTR-3B/3BQ for each Goods and Services Tax return period. If claimed Input Tax Credit exceeds the Input Tax Credit available as per GSTR-2B by specified limits, as extensive guidebook issued by competent GST Authority, GST taxpayer shall receive an intimation in form of GST Form DRC-01C.

GST taxpayer is needed to submit a response using Form DRC-01C Part B after receiving the notification. The taxpayer has the choice to either use Form DRC-03 to specified  payment made to make up the difference, to use one of the alternatives on form to explain difference, or to combine both of these options.

The impacted GST taxpayers will not be allowed to submit their future period GSTR-1/IFF if they fail to respond in Part B of GST Form DRC-01C.

An extensive guidebook with navigational instructions is accessible on the GST portal to aid GST Taxpayers even further in process. It discusses many scenarios relating to the feature and provides step-by-step directions. The below link is mention  below: https://tutorial.gst.gov.in/downloads/news/return_compliance_itc_mismatch_intimation_in_form_gst_drc_01c.pdf

Goods and Services Tax Network issued Advisory can be find at: https://www.gst.gov.in/newsandupdates/read/606

Tags: Form DRC-01C
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Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.

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