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We all have experienced the change GST brought for us in last two and half years of implementation.

We are still feeling the waves of change in the current year too.

The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 123/42/2019– GST dated 11th November 2019 (F. No. CBEC – 20/06/14/2019 – GST) clarifying Restriction in availment of input tax credit in terms of sub-rule (4) of rule 36 of CGST Rules, 2017. The maximum ITC which can be availed is the amount of ITC appearing in GSTR 2A plus 10% additional of 2A amount subject to maximum of ITC available in books of accounts.

Recently in its 38th GST Council Meet, it was proposed to reduce the ITC availability to 10% in addition to the ITC appearing in GSTR 2A with effect from 1st January 2020.

What you should do to align with the changes

Categorize suppliers in monthly or quarterly filing

Request all suppliers to file the returns within due date

Download GSTR 2A on expiry of due date of filing GSTR 1 of suppliers

Reconcile the ITC as per books and GSTR 2A monthly/Quarterly for complying with the amended conditions

Ascertain eligible invoices (do not consider ITC on invoices which are not eligible for availing ITC i.e. ineligible ITC invoices, Invoices for suppliers used for making exempt supplies, invoices which is not reported by suppliers in their GSTR 1)

Remember, this change may adversely affect your cash flows since you may have to pay GST liability for any shortfall in cash.

We are with you to assist in categorising identifying Supplier Compliance as well as compute your eligible ITC as per new circular.

We may also assist you to reconcile your GSTR 2A:

TaxMarvel Assisted Reconciliation Tool helps you in reconciling the Input Tax Credits availed in Books of accounts in few simple steps.

  • We offer following as a part of GSTR 2A Reconciliation Services –
  • A detailed reconciliation Statement segmented in
    Matched suppliers
    Mismatched Records
    Missing in GSTR 2A
    Missing in Purchase Register
  • A sanitised and ready to use Purchase Register
  • Ineligible ITC availed, if any
  • List of suppliers who are yet to file their GSTR 1
  • Statement of ITC at risk

Contact Us

Please avail your free Supplier Compliance and your eligible ITC as per new circular, please get in touch with us through email or call.

We are just a call away. Consultation is free and our services are fully tailored to fit your needs.

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  •    Phone:   +91-9503031788
  •    Website:
  • Team

About TaxMarvel

TaxMarvel is a Consulting firm focused on providing GST services to small and medium enterprises. We offer host of GST Services be it registration or compliance or consulting or litigation support. We make GST easy for businesses by bringing in technology and subject matter expertise.

Our bouquet of services

GST Compliance Services
GST Advisory and Consulting
Health Check
GST Annual Return and GST Audit
Reconciliation Services
Refund Assistance
Advance Ruling and Litigation Support
GST Training and SOP Development

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