GST
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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.
Rule 37, CGST Rules 2017; Sec 16(2), CGST Act 2017; Rule 88D, CGST Rules 2017
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.
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