Suppose I have a credit reflecting in my GSTR 2b.( eg. input of works contract service relating to construction of immovable property) what action should be done relating to the same?
since it's a blocked credit, the same should not be claimed. Is there any other procedure to be done? like reversing?
Menu
Blocked credit in Gstr 2B
Replies (2)
It has to be included in "4(A)(5) All other ITC" and has to be reversed in "4(B)(1) As per rules 38, 42 and 43 of CGST Rules and sub-section (5) of Section 17" of Form GSTR 3B.
Yes as per circular of CBIC you show it first in all other ITC as auto populated from GSTR-2B and then reverse it in the columns suggested above.
Related Threads
CAclubindia
