Whether to file ITC 03 for downward GST rate revision - Reg.
This query is : Resolved
15 November 2025
Dear Experts,
With reference to the abolition of 12% GST rate with effect from 22nd Sep of this year,
is it necessary to file ITC 03, if the rate of GST is reduced from 12% or 18% to 5%, for the stock
held as on 21.09.25 under either of this catagory.
In ITC 03, there is provision only for those goods which has been wholly exempted. So
what should be done for the stock on which GST rate has been reduced but not exempted.
Pls. advice.
With reference to the abolition of 12% GST rate with effect from 22nd Sep of this year,
is it necessary to file ITC 03, if the rate of GST is reduced from 12% or 18% to 5%, for the stock
held as on 21.09.25 under either of this catagory.
In ITC 03, there is provision only for those goods which has been wholly exempted. So
what should be done for the stock on which GST rate has been reduced but not exempted.
Pls. advice.
16 November 2025
No, filing ITC-03 is not required when GST rates are merely reduced (e.g., from 12% or 18% to 5%) as long as the goods remain taxable. ITC-03 is applicable only when goods become wholly exempt or when a taxpayer shifts to the composition scheme, as per Section 18(4) of the CGST Act.
17 November 2025
Thank you very much Sir.
17 November 2025
You are welcome.
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