Answer

1. F

   Facts

   Credit taken before the invoice appears in GSTR-2B is not allowed under Rule 36(4). If it was utilised before it became available, interest at 18 percent can apply for that period.

2. P

   Provisions and law

   • Rule 36(4), CGST Rules 2017ITC can be taken only on invoices and debit notes furnished by suppliers in GSTR-1 or IFF and communicated in GSTR-2B.
   • Sec 50(3), CGST Act 2017Interest is payable on ITC wrongly availed and utilised, from the date of utilisation till reversal, at the notified rate (18 percent a year).
   • Rule 88B, CGST Rules 2017Interest on a late return is on the cash portion only; amounts already in the cash ledger by the due date are excluded; interest on wrongly availed ITC runs from utilisation till reversal.
3. A

   Analysis

   If you claimed ₹30,000 in March but the invoice came in April's 2B, the March claim was early. If the credit was utilised, interest arises for about a month: about ₹444. If the ledger balance stayed above ₹30,000, no utilisation and no interest. Claim only from 2B in future.

4. C

   Conclusion

   1. 1Find credits claimed before they appeared in 2B.
   2. 2Check ledger balance for utilisation.
   3. 3Compute interest for the early period.
   4. 4Pay through DRC-03 and claim only from 2B going forward.

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