diff --git a/README.md b/README.md
index de1d1ed..ef520ad 100644
--- a/README.md
+++ b/README.md
@@ -45,7 +45,7 @@ ansible-galaxy collection install kubevirt-kubevirt.core-*.tar.gz
 <!--start collection_dependencies -->
 #### Ansible collections
 
-* [kubernetes.core](https://galaxy.ansible.com/ui/repo/published/kubernetes/core)>=3.0.1
+* [kubernetes.core](https://galaxy.ansible.com/ui/repo/published/kubernetes/core)>=3.1.0,<4.1.0
 
 To install all the dependencies:
 ```bash
diff --git a/galaxy.yml b/galaxy.yml
index c6754fd..fcdceb9 100644
--- a/galaxy.yml
+++ b/galaxy.yml
@@ -6,7 +6,7 @@ readme: README.md
 authors:
   - KubeVirt Project (kubevirt.io)
 dependencies:
-  kubernetes.core: '>=3.0.1'
+  kubernetes.core: '>=3.1.0,<4.1.0'
 description: Lean Ansible bindings for KubeVirt
 license_file: LICENSE
 tags:
diff --git a/plugins/inventory/kubevirt.py b/plugins/inventory/kubevirt.py
index 171ccd2..74c97af 100644
--- a/plugins/inventory/kubevirt.py
+++ b/plugins/inventory/kubevirt.py
@@ -182,22 +182,23 @@
 
 
 # Handle import errors of python kubernetes client.
-# HAS_K8S_MODULE_HELPER imported below will print a warning to the user if the client is missing.
+# Set HAS_K8S_MODULE_HELPER and k8s_import exception accordingly to
+# potentially print a warning to the user if the client is missing.
 try:
     from kubernetes.dynamic.exceptions import DynamicApiError
-except ImportError:
+
+    HAS_K8S_MODULE_HELPER = True
+    k8s_import_exception = None
+except ImportError as e:
 
     class DynamicApiError(Exception):
         pass
 
+    HAS_K8S_MODULE_HELPER = False
+    k8s_import_exception = e
 
 from ansible.plugins.inventory import BaseInventoryPlugin, Constructable, Cacheable
 
-from ansible_collections.kubernetes.core.plugins.module_utils.common import (
-    HAS_K8S_MODULE_HELPER,
-    k8s_import_exception,
-)
-
 
 from ansible_collections.kubernetes.core.plugins.module_utils.k8s.client import (
     get_api_client,
diff --git a/requirements.yml b/requirements.yml
index 2547eb4..f119fc3 100644
--- a/requirements.yml
+++ b/requirements.yml
@@ -1,4 +1,4 @@
 ---
 collections:
   - name: kubernetes.core
-    version: '>=3.0.1'
+    version: '>=3.1.0,<4.1.0'