Celebrate Freedom with 20% OFF on CAclubindia Pro Subscription. Use Code: FREEDOM20

GSTR-9 and ITC Reverse as per rules 42 or 43

238 views 3 replies

Tapas Samadder

538 Points Joined October 2020

Sir I have works contact business, I don't avail ITC and I reversed ITC in GSTR-3B, now I filling gstr-9, in Table-7 of gstr-9 where I put ITC Reversal : in rule-42, 43 or any other section? pls.

Replies (3)

Rama chary Rachakonda

Master in Accounts & high court Advocate

8979 Points Joined December 2011

In Table 7 of GSTR-9, you should report the ITC reversal in the "Others" section.

Here's why: - Rule 42 and 43 relate to ITC reversal for goods/services used for personal consumption, or for purposes other than business. -

Since you mentioned you don't avail ITC and reversed ITC in GSTR-3B, it's likely that the reversal is due to other reasons (e.g., incorrect availed ITC, or ITC on ineligible supplies).

In this case, report the ITC reversal in the "Others" section of Table 7, as it doesn't fit into the specific scenarios covered under Rule 42 or 43.

However, please consult a tax professional or GST expert to ensure you're meeting the necessary compliance requirements and accurately reporting the ITC reversal in GSTR-9.