Answer

1. F

   Facts

   Credit reversed earlier, for example under Rule 37 for non-payment within 180 days, can be reclaimed once conditions are met. It is reclaimed in GSTR-3B Table 4(D)(1) and is not in the current GSTR-2B. The Electronic Credit Reversal and Re-claimed Statement on the portal tracks these amounts.

2. P

   Provisions and law

   • Rule 37, CGST Rules 2017ITC to be reversed with interest if the supplier is not paid within 180 days
   • Sec 16(2), CGST Act 2017ITC needs a tax invoice, receipt of goods or services, tax paid by the supplier and a filed return
   • Rule 88D, CGST Rules 2017Intimation DRC-01C when ITC in GSTR-3B exceeds GSTR-2B beyond a limit; reply in 7 days
3. A

   Analysis

   If you reversed ₹50,000 in March and paid the supplier in June, you can reclaim ₹50,000 in June. Explain this in Part B with the month of reversal and the statement balance. The reclaim must not exceed the amount shown as reversed in the statement.

4. C

   Conclusion

   1. 1Open the credit reversal and reclaimed statement
   2. 2Confirm the reclaim matches an earlier reversal
   3. 3Explain in Part B with the month of reversal
   4. 4Keep payment proof to the supplier

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.