Since 14th November 2023, the government GST portal has been issuing DRC-01C intimations to enterprises, specifically highlighting excess Input Tax Credit (ITC) claims in GSTR-3B compared to GSTR-2B.
To safeguard your business against potential risks and ensure compliance, we strongly recommend reading our handbook, “DRC-01C Intimation Risks: Action Steps.”
Taking proactive steps now will help you:
Avoid bottlenecks to your cash flows due to excess ITC claims.
Prevent blocks on the next month's GSTR-1/IFF filings, ensuring continued ITC claims for your buyers.
Mitigate the risk of demand notices under sections 73 or 74.
CAclubindia
