GST ITC REVERSAL- BUILDER

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135 Points Posted on 06 November 2023
dear friends
my query is how to reverse GST ITC in case of builders and where to disclose in GSTR-3B.
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On 06 November 2023 at 22:02 Report
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This discussion clarifies the process for reversing GST Input Tax Credit (ITC) for builders. It confirms that ineligible ITC should be shown in Table 4(A)(5) and then reversed in Table 4(B)(1) of the GSTR-3B. This applies especially to construction businesses that have opted for the 5% GST scheme.

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Employee Private
1913 Points Posted on 07 November 2023

If you are not eligible for ITC show in Table 4(B)(1).

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On 07 November 2023 at 13:42
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135 Points Posted on 07 November 2023

sir, whether we have to first  report 4(A)(5)  And then reverse  in 4 (B)(1)..Pls confirm

 

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On 07 November 2023 at 13:52
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Profession
28271 Points Posted on 07 November 2023
Why reversal has to be made???
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On 07 November 2023 at 20:48
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135 Points Posted on 08 November 2023

we are construction busineess and we opted 5% GST

 

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On 08 November 2023 at 10:07
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Employee Private
1913 Points Posted on 08 November 2023

Yes exactly you have to show in Table 4A(5) and has to reverse in Table 4B(1).

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On 08 November 2023 at 13:13

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