Re-opening of Reporting ITC Reversal Opening Balance
The GSTN has issued an update to inform that the Taxpayers are being provided with one final opportunity to report their cumulative ITC reversal (ITC that has been reversed earlier and has not yet been reclaimed) as opening balance for “Electronic Credit Reversal and Re-claimed Statement”, if any, before hard locking the reversal and reclaim ledger. The functionality to reporting the opening balance will be available from 15th September 2024 to 31st October 2024.
