GST Portal launches new feature to track ITC claimed, reversed, and re-claimed

Taxpayers can report their opening balance of ITC Reversal until November 30, 2023. After that, 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 shows the Input Tax Credit (ITC) claimed, reversed, and re-claimed during a specific return period. This information is presented from Table 4A(5), Table 4B(2), and Table 4D(1) of form GSTR-3B.

The Closing Balance section of the statement indicates the remaining amount of ITC Reversal balance that can be claimed again in form GSTR-3B.

To access the Electronic Credit Reversal and Re-claimed Statement, go to the Electronic Credit Dashboard > Services > Ledgers Reversal & Reclaimed Statement.

Here are some additional things to keep in mind:

  • Taxpayers can amend their opening balance until December 31, 2023. After that, the updated value will be frozen with no further attempts provided to the taxpayers to amend their ITC Reversal Balance.
  • The opening balance that has been reported or amended by the taxpayers shall be credited to the “Electronic Credit Reversal and Re-claimed Statement”. This statement will be used to validate the taxpayer’s ITC Reclaimed amount in Table 4A(5) & 4D(1) of form GSTR-3B.

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