{"id":48343,"date":"2024-02-02T10:40:54","date_gmt":"2024-02-02T05:10:54","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=48343"},"modified":"2024-05-25T11:07:46","modified_gmt":"2024-05-25T05:37:46","slug":"gstns-electronic-credit-reversal-reclaimed-statement","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/","title":{"rendered":"GSTN\u2019s Electronic Credit Reversal &#038; Reclaimed Statement"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-48346 size-full\" title=\"GSTN\u2019s Electronic Credit Reversal &amp; Reclaimed Statement\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\" alt=\"GSTN\u2019s Electronic Credit Reversal &amp; Reclaimed Statement\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Goods and Services Tax (GST)<\/span><span style=\"font-weight: 400;\"> has transformed the taxation system in various countries, and so does in India. It aims for an efficient concept and more transparent to charging taxes. One of the main elements within the GST structure is the <\/span><span style=\"font-weight: 400;\">GST Network (GSTN),<\/span><span style=\"font-weight: 400;\"> a technological infrastructure that plays a vital role in the administration of GST. In this article, we explore <\/span><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> and Reclaimed Statements form an essential concept, influencing how enterprises manage and utilize <\/span><b>Input Tax Credits (ITC).<\/b><\/p>\n<p style=\"text-align: justify;\"><b>Table of Content<\/b><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#credit\"><b>Electronic Credit<\/b> <b>Reversal<\/b><span style=\"font-weight: 400;\">: Unravelling the Basics<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#the\"><span style=\"font-weight: 400;\">Reclaimed Statement: Navigating the Path to Rectification<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#of\"><span style=\"font-weight: 400;\">The Role of GSTN: Empowering Seamless Compliance<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"credit\"><b>Electronic Credit Reversal: Unravelling the Basics<\/b><\/h2>\n<p style=\"text-align: justify;\"><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> is a fundamental term within the GST structure. It is created to mention the particular conditions where previously <\/span><a href=\"https:\/\/www.cagmc.com\/how-to-claim-itc\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">claimed <\/span><b>ITC<\/b><\/a><span style=\"font-weight: 400;\"> require to be reversed. Exploring <\/span><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> includes understanding the significant implications and triggers associated with the process.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Goods and services non-usage: <\/b><span style=\"font-weight: 400;\">The primary reason for <\/span><b>Electronic Credit Reversal <\/b><span style=\"font-weight: 400;\">happens during the goods or services for which <\/span><b>ITC<\/b><span style=\"font-weight: 400;\"> claimed are not in use for business objects. Through this time, the credited amount should be reversed and make sure the businesses enjoy tax merits for goods and services, which contribute directly to their economic performances.<\/span><\/li>\n<li aria-level=\"1\"><b>Default in payment: <\/b><span style=\"font-weight: 400;\">Another crucial setoff for <\/span><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> is payment default. In case a taxpayer is unable to make payment to suppliers within 180 days of the transaction, the <\/span><b>ITC<\/b><span style=\"font-weight: 400;\"> claimed on a specific transaction is subject to <\/span><b>ITC reversal<\/b><span style=\"font-weight: 400;\">. This technique promotes timely payments, fostering a healthier financial ecosystem.<\/span><\/li>\n<li aria-level=\"1\"><b>Implications for entities: <\/b><span style=\"font-weight: 400;\">Entities are required to assess their usage of goods and services for business objectives before claiming <\/span><b>ITC<\/b><span style=\"font-weight: 400;\">. Failure can cause subsequent <\/span><b>ITC reversals.<\/b><\/li>\n<li aria-level=\"1\"><b>Compliance and rectification: <\/b><span style=\"font-weight: 400;\">Knowing the <\/span><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> is not only about compliance as it offers entities an opportunity for rectification. In case, for any reason, goods and services initially claimed as non-usable are later put to business use. Businesses can rectify the condition by filing of reclaimed statement.<\/span><\/li>\n<\/ul>\n<h2 id=\"the\"><b>Reclaimed Statement: Navigating the Path to Rectification<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The Reclaimed statement is an important component in the GST structure, by providing businesses a strategic pathway to rectify and reclaim <\/span><b>ITC<\/b><span style=\"font-weight: 400;\">, which was initially reversed. Here are two circumstances for a reclaimed statement:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Settlement of payment default:<\/b><span style=\"font-weight: 400;\"> In case the taxpayer settles the outstanding payment to the supplier within 180 days, the <\/span><a href=\"https:\/\/www.cagmc.com\/input-tax-credit-under-gst\/\" target=\"_blank\" rel=\"noopener\"><b>ITC<\/b><\/a><span style=\"font-weight: 400;\"> that was initially revered because of default in payment can be reclaimed by the Reclaimed statement.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rectification of non-usage:<\/b><span style=\"font-weight: 400;\"> The Reclaimed statement comes, when goods and services, are initially claimed as non-usable and later put into business use. Entities can rectify the condition by filing a Reclaimed statement, and making sure that they receive the <\/span><a href=\"https:\/\/www.cagmc.com\/input-tax-credit-under-gst\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tax credits<\/span><\/a><span style=\"font-weight: 400;\"> rightfully applicable to their economic performances.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">There are basic steps to file a Reclaimed statement:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Documentation and verification, lead to reclaiming <\/span><b>ITC;<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accessing the <\/span><a href=\"https:\/\/services.gst.gov.in\/services\/login\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">GSTN Portal<\/span><\/a><span style=\"font-weight: 400;\">;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Submit the rectified information such as payment settlement; and rectified usage.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real-time updates and tracking.\u00a0<\/span><\/li>\n<\/ul>\n<h2 id=\"of\"><b>The Role of GSTN: Empowering Seamless Compliance<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The GSTN stands for the GST ecosystem, playing a crucial role in empowering enterprises and businesses with techniques for seamless compliance. The role of GSTN becomes instrumental in making sure transparent and efficient compliance procedure:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Technological backbone: <\/b><span style=\"font-weight: 400;\">GSTN provides a user-friendly online portal, which offers a centralized hub for taxpayers. This portal is a doorway for several GST-related activities such as making payments, filing returns, and managing <\/span><b>Electronic Credit Reversal<\/b><span style=\"font-weight: 400;\"> and Reclaimed Statement.<\/span><\/li>\n<li aria-level=\"1\"><b>Filing and management of statements: <\/b><span style=\"font-weight: 400;\">GSTN provides the management and filing of Electronic <\/span><b>ITC Reversal<\/b><span style=\"font-weight: 400;\"> and Reclaimed statements.\u00a0<\/span><\/li>\n<li aria-level=\"1\"><b>Integration with other systems: <\/b><span style=\"font-weight: 400;\">It integrates the other taxation and financial methods that promote a seamless flow of details between several businesses.<\/span><\/li>\n<li aria-level=\"1\"><b>User Support: <\/b><span style=\"font-weight: 400;\">GSTN performs a helpdesk to address concerns and queries raised by taxpayers.\u00a0<\/span><\/li>\n<li aria-level=\"1\"><b>Data security: <\/b><span style=\"font-weight: 400;\">GSTN makes sure about the secure framework for handling sensitive taxpayer data. This leads to data security is significant for managing the confidentiality and integrity of financial details.<\/span><\/li>\n<li aria-level=\"1\"><b>Educational resources: <\/b><span style=\"font-weight: 400;\">It provides educational<\/span> <span style=\"font-weight: 400;\">resources, such as tutorials and instructions, to manage businesses and evaluate the GST structure.\u00a0<\/span><\/li>\n<\/ul>\n<h2 id=\"conclusion\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In conclusion, the <\/span><a href=\"https:\/\/tutorial.gst.gov.in\/downloads\/news\/itc_pending_ledger.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">GSTN Electronic <\/span><b>ITC Reversal<\/b><span style=\"font-weight: 400;\"> and Reclaimed statement<\/span><\/a><span style=\"font-weight: 400;\"> are significant for the entity&#8217;s purpose for compliance with the GST structure. As businesses grip on the technological mechanisms offered by GSTN, they not only bond to legal needs but also optimize their usage of <\/span><b>ITC.<\/b><span style=\"font-weight: 400;\"> This meticulous understanding brings a more transparent and efficient taxation system, and positions businesses to thrive with the evolving landscape of GST laws.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goods and Services Tax (GST) has transformed the taxation system in various countries, and so does in India. It aims [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":48346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[71],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company<\/title>\n<meta name=\"description\" content=\"This article, we explore Electronic Credit Reversal &amp; Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company\" \/>\n<meta property=\"og:description\" content=\"This article, we explore Electronic Credit Reversal &amp; Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\" \/>\n<meta property=\"og:site_name\" content=\"Goyal Mangal &amp; Company\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goyalmangal\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-02T05:10:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-25T05:37:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"CA Rishabh Maheshwari\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"CA Rishabh Maheshwari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\"},\"author\":{\"name\":\"CA Rishabh Maheshwari\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988\"},\"headline\":\"GSTN\u2019s Electronic Credit Reversal &#038; Reclaimed Statement\",\"datePublished\":\"2024-02-02T05:10:54+00:00\",\"dateModified\":\"2024-05-25T05:37:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\"},\"wordCount\":755,\"publisher\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\",\"articleSection\":[\"GST\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\",\"url\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\",\"name\":\"Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company\",\"isPartOf\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\",\"datePublished\":\"2024-02-02T05:10:54+00:00\",\"dateModified\":\"2024-05-25T05:37:46+00:00\",\"description\":\"This article, we explore Electronic Credit Reversal & Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage\",\"url\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\",\"contentUrl\":\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png\",\"width\":1200,\"height\":630,\"caption\":\"GSTN\u2019s Electronic Credit Reversal & Reclaimed Statement\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.cagmc.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GSTN\u2019s Electronic Credit Reversal &#038; Reclaimed Statement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#website\",\"url\":\"https:\/\/www.cagmc.com\/blog\/\",\"name\":\"Goyal Mangal &amp; Company\",\"description\":\"Best CA Firm in Jaipur\",\"publisher\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.cagmc.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#organization\",\"name\":\"Goyal Mangal & Company\",\"url\":\"https:\/\/www.cagmc.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png\",\"contentUrl\":\"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png\",\"width\":673,\"height\":145,\"caption\":\"Goyal Mangal & Company\"},\"image\":{\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/goyalmangal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988\",\"name\":\"CA Rishabh Maheshwari\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g\",\"caption\":\"CA Rishabh Maheshwari\"},\"description\":\"CA Rishabh Maheshwari is an associate Chartered Accountant having expertise in conducting statutory and internal audits of large clients. He has also done a certified course on Concurrent audits of banks. He is responsible for coordination, planning, team leadership in connection with Audits and GST of Private and Public Companies with an experience of almost 3 years.\",\"url\":\"https:\/\/www.cagmc.com\/blog\/author\/rishabhmaheshwari\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company","description":"This article, we explore Electronic Credit Reversal & Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/","og_locale":"en_US","og_type":"article","og_title":"Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company","og_description":"This article, we explore Electronic Credit Reversal & Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.","og_url":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/","og_site_name":"Goyal Mangal &amp; Company","article_publisher":"https:\/\/www.facebook.com\/goyalmangal","article_published_time":"2024-02-02T05:10:54+00:00","article_modified_time":"2024-05-25T05:37:46+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png","type":"image\/png"}],"author":"CA Rishabh Maheshwari","twitter_card":"summary_large_image","twitter_misc":{"Written by":"CA Rishabh Maheshwari","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#article","isPartOf":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/"},"author":{"name":"CA Rishabh Maheshwari","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988"},"headline":"GSTN\u2019s Electronic Credit Reversal &#038; Reclaimed Statement","datePublished":"2024-02-02T05:10:54+00:00","dateModified":"2024-05-25T05:37:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/"},"wordCount":755,"publisher":{"@id":"https:\/\/www.cagmc.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png","articleSection":["GST"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/","url":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/","name":"Electronic Credit Reversal and Reclaimed Statements - Goyal Mangal &amp; Company","isPartOf":{"@id":"https:\/\/www.cagmc.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage"},"thumbnailUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png","datePublished":"2024-02-02T05:10:54+00:00","dateModified":"2024-05-25T05:37:46+00:00","description":"This article, we explore Electronic Credit Reversal & Reclaimed Statements form an essential concept, how enterprises manage and utilize ITC.","breadcrumb":{"@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#primaryimage","url":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png","contentUrl":"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2024\/01\/GSTNs-Electronic-Credit-Reversal-Reclaimed-Statement-1.png","width":1200,"height":630,"caption":"GSTN\u2019s Electronic Credit Reversal & Reclaimed Statement"},{"@type":"BreadcrumbList","@id":"https:\/\/www.cagmc.com\/blog\/gstns-electronic-credit-reversal-reclaimed-statement\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cagmc.com\/blog\/"},{"@type":"ListItem","position":2,"name":"GSTN\u2019s Electronic Credit Reversal &#038; Reclaimed Statement"}]},{"@type":"WebSite","@id":"https:\/\/www.cagmc.com\/blog\/#website","url":"https:\/\/www.cagmc.com\/blog\/","name":"Goyal Mangal &amp; Company","description":"Best CA Firm in Jaipur","publisher":{"@id":"https:\/\/www.cagmc.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cagmc.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.cagmc.com\/blog\/#organization","name":"Goyal Mangal & Company","url":"https:\/\/www.cagmc.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png","contentUrl":"https:\/\/www.cagmc.com\/wp-content\/uploads\/2020\/01\/logo4.png","width":673,"height":145,"caption":"Goyal Mangal & Company"},"image":{"@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/goyalmangal"]},{"@type":"Person","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/c7a532ee41fb3606b665428f3dee9988","name":"CA Rishabh Maheshwari","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.cagmc.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/04873f1a1698a4cc2724eb0f8f0c7225?s=96&d=mm&r=g","caption":"CA Rishabh Maheshwari"},"description":"CA Rishabh Maheshwari is an associate Chartered Accountant having expertise in conducting statutory and internal audits of large clients. He has also done a certified course on Concurrent audits of banks. He is responsible for coordination, planning, team leadership in connection with Audits and GST of Private and Public Companies with an experience of almost 3 years.","url":"https:\/\/www.cagmc.com\/blog\/author\/rishabhmaheshwari\/"}]}},"_links":{"self":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/48343"}],"collection":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/comments?post=48343"}],"version-history":[{"count":6,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/48343\/revisions"}],"predecessor-version":[{"id":50455,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/posts\/48343\/revisions\/50455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/media\/48346"}],"wp:attachment":[{"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/media?parent=48343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/categories?post=48343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cagmc.com\/blog\/wp-json\/wp\/v2\/tags?post=48343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}