GSTN has introduced a game-changer in tax compliance: Form DRC-01C, an automated intimation system that helps you identify and address discrepancies between ITC claimed in GSTR-3B and ITC available in GSTR-2B. 💯🎯
This nifty tool compares ITC declared in GSTR-3B/3BQ with ITC available in GSTR-2B/2BQ for each return period and sends an intimation in Form DRC-01C if there’s a noticeable mismatch. 🔍⚖️
Upon receiving this intimation, you can easily rectify the issue by providing details of the payment made to settle the difference using Form DRC-03, or by providing an explanation for the difference, or even a combination of both. 📑💰
Don’t miss out on this crucial update! Stay compliant and avoid penalties by responding promptly to the intimation in Form DRC-01C Part B. 🚨🚫