Ineligible ITC claimed
This query is : Resolved
29 November 2024
reverse ineligible ITC in which column of 3B should I show last year's claimed ineligible ITC in this F.Y. year
Dhirajlal Rambhia
(Expert)
29 November 2024
Table 4(B)(1): Report any permanent reversals of ineligible ITC here. This includes ITC that is permanently disallowed under various provisions, such as those related to exempt supplies or other specific restrictions outlined in the GST law.
Table 4(B)(2): This section is for temporary reversals of ITC that may be reclaimable in future periods. If such ITC is reclaimed in future, the same is to be done in Table 4(A)(5) on fulfilling the relevant conditions. In this part, taxpayers may also reverse ITC claimed in a previous tax period due to an inadvertent error.
Table 4(B)(2): This section is for temporary reversals of ITC that may be reclaimable in future periods. If such ITC is reclaimed in future, the same is to be done in Table 4(A)(5) on fulfilling the relevant conditions. In this part, taxpayers may also reverse ITC claimed in a previous tax period due to an inadvertent error.
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