Ja Morant was just hit with an 8-game suspension without pay for flashing a gun at a strip club earlier this month ... with NBA commissioner Adam Silver calling his conduct "irresponsible, reckless and potentially very dangerous."
Ja -- who met with Silver and other NBA execs in NYC on Wednesday -- will be eligible to return to the Memphis Grizzlies on March 20 against the Dallas Mavericks.
The league conducted an investigation into the incident ... and determined Ja was "in an intoxicated state" when he showed the firearm on his Instagram Live.