From January 2022 input tax credit ITC available only upto what is reflected in GSTR-2B , here is the flow chart what to add + and what to less – from GSTR-2B to arrive at “ITC to be claimed” in GSTR-3B.
Add: Download GSTR-2B form
(Generally it is available in the afternoon of 14th of every month)
Less: Remove ineligible ITC from GSTR-2B form
(Such as motor car, food, health insurance, gift, capital expense relating to immovable property etc)
Less: Remove ITC claimed in earlier period from GSTR-2B
(Example invoice dated 10-12-2021 ITC taken in GSTR-3B of Dec-21, however supplier disclosed same ITC recently and appearing in GSTR-2B of Jan-22)
Add: Remove goods received in next month from GSTR-2B form
(Example invoice date 30-01-2022 and also appearing in GSTR-2B of Jan-22 , however goods are received from company 5th Feb 2022 , this ITC is to be claimed in GSTR-3B of Feb 2022)
Less: Remove ITC not relating to your business from GSTR-2B form
(Example A solds goods to B, but in GSTR-1 shown GSTIN of D , Here D needs to be remove ITC from is GSTR-2B)
Add: Import ITC to be Taken based on bill of entries from GSTR-2B form
(Example in Jan 2022, 3 bill of entries are filled by company, However in GSTR-2B of Jan only 1 bill of entries is reflecting, company can claim ITC of remaining 2 bill of entries too in Jan 2022, even though it is not reflecting in GSTR-2B)
Add: Pending ITC from GSTR-2B form
(Example invoice date 10-11-20 21 supplier filled his GST-R1 & GSTR-3B within due date, However buyer has not taken ITC in Nov / Dec yet, same can be now taken in Jan 2022)
Note
a) It is important that utmost efforts are to be taken to ensure that ITC balance as per books and GST returns is matching.
b) It is recommended that reconciliation of ITC as per books and GSTR-2B should be done on monthly basis, to keep track of ITC mismatch.
c) It is only for information.
