RE: GST Reconciliation

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This query is : Resolved

Quick Summary

This discussion focuses on the complexities of GST reconciliation for purchases, specifically concerning Input Tax Credit (ITC). The user needs a step-by-step guide to identify which purchases are eligible for ITC, how to calculate the available ITC balance, and the process for setting off this credit. Additionally, clarification is sought on ineligible items for ITC and relevant GST rules, circulars, or notifications.

kirangailal

kirangailal (Querist)

24 November 2021 Dear Sir. Please help me out in GST reconciliation for purchase who is filed and who is not filed for every month and what are the inputs that i can avail ITC and how i come to know for which are bills i can avail and how to do workings on that and how to setoff the ITC and available balance in ITC. What are the ineligible items for which i should not take any ITC against GST rules if any circular or notification for that kindly share. I request you to kindly reply step by step explanation waiting for your soonest reply.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

24 November 2021 Refer:: https://www.slideshare.net/narayanlodha/1-presentation-on-input-tax-credit-under-gst

& /or https://cleartax.in/s/gst-ppt-presentation

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

24 November 2021 https://www.zoho.com/in/books/gst/gst-input-tax-credit-rules.html

Or https://taxguru.in/goods-and-service-tax/input-tax-credit-itc-gst-regime.html

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