ITC Reversal of Exempted goods
This query is : Resolved
04 March 2025
Dear Sir,
We have received Notice for 2017-18,
Case- Excess claim of ITC and non-reversal of ITC claimed and utilized for making exempted supplies during the period.
Actual our business activities is Fresh Gherkins, Gherkins Seeds and Gherkins in Acetic acid
Gherkins in acetic acid is 5% GST HSN Code- 07114000
Fresh Gherkins is Nil Rated
Gherkins Seeds as nill Rated
we have not claimed ITC related for Fresh Gherkins and Seeds so both activities is there in our business,
Purchase also Exempted and Sales also exempted, so how to reversal of ITC.
So kindly replay for this anyone.
Regards,
Raghu S
We have received Notice for 2017-18,
Case- Excess claim of ITC and non-reversal of ITC claimed and utilized for making exempted supplies during the period.
Actual our business activities is Fresh Gherkins, Gherkins Seeds and Gherkins in Acetic acid
Gherkins in acetic acid is 5% GST HSN Code- 07114000
Fresh Gherkins is Nil Rated
Gherkins Seeds as nill Rated
we have not claimed ITC related for Fresh Gherkins and Seeds so both activities is there in our business,
Purchase also Exempted and Sales also exempted, so how to reversal of ITC.
So kindly replay for this anyone.
Regards,
Raghu S
04 March 2025
Reply as above and say no ITC claimed related to exempt goods hence no reversal is required.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
