Automated Data Entry into Tally, Zoho Books, Quickbooks


This query is : Resolved 

19 May 2023 We are opting for a composition scheme from 01-04-2023 and have a stock of Rs. 200000 as of 31-03-2023. Which form should be filed by us to reverse ITC on stock held?

20 May 2023 You have to furnish the statement in FORM GST ITC-03 which is a declaration for intimation of ITC reversal/payment of tax on inputs held in stock, inputs contained in semi-finished and finished goods held in stock and capital goods under Section 18(4) of the CGST Act, 2017 within a period of sixty days from the commencement of the relevant financial year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link

Similar Resolved Queries


Unanswered Queries

Automated Data Entry into Tally, Zoho Books, Quickbooks
Advanced Level Course on GST Returns and ITC Issues with CA Abhishek Raja Ram

Follow us

Answer Query