Filling of form 3CD Clause 27(a)

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This discussion clarifies the requirement to fill Form 3CD Clause 27(a) regarding GST input tax credit availed and utilised in the previous year. It explains that even if an assessee has no opening or closing stock, the clause is still mandatory. The conversation also touches upon how to disclose opening and closing ITC in the Profit & Loss account and where to report them in the ITR form, noting that stock and ITC are separate concepts.

CHANDRAKALA

CHANDRAKALA (Querist)
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19 November 2020 while filling form 3CD is it required to fill the Clause 27(a) for GST input tax credit availed and utilized in the previous year??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 November 2020 Yes it's required to fill the clause.

CHANDRAKALA

CHANDRAKALA (Querist)
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24 November 2020 If the assessee does not have the Opening and Closing Stocks then how to disclose the Opening and Closing ITC in P&L.
And also where to fill the opening and closing ITC in Trading account in ITR form

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 November 2020 Stock and ITC not related. ITC will be there if there is no stock.

pradeep goyal

pradeep goyal (Expert)
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24 November 2020 Yes it is very much required. as far as reply to "its treatment in the
profit and loss account" is concerned, you have to fill that part of GST on your inwards supply which was not availed like blocked credits which is added in the cost with relevant expenses.

CHANDRAKALA

CHANDRAKALA (Querist)
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25 November 2020 Thank you Sir for your reply but need some clarification while filling ITR Form, i.e., I want to know where to fill the Opening and Closing ITCs in Trading Account in ITR form.

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